Milstein Center News

Like elsewhere, Class A owners are hogging much of the post-pandemic demand, and that's sparking public-private moves to repurpose wide swathes of underutilized space. Professor Tomasz Piskorski is quoted. 

Professor Tomasz Piskorski's working paper, published Monday by the National Bureau of Economic Research (NBER), analyzed the potential impact of reduced commissions on home prices and looked at who may benefit the most.

The real-estate industry just went through a historic shift that will fundamentally change how agents are paid for helping people buy and sell homes. The new rules, which went into effect on Aug. 17, are supposed to make the process of buying and selling a home more transparent. But they could also result in higher home prices, according to a new working paper circulated by the National Bureau of Economic Research.