Real Estate Commission Shakeup: What the Landmark Settlement Means for Buyers and Sellers
A landmark legal settlement between home sellers and the real estate industry could cause a shakeup in the way homes are bought and sold, beginning this summer.
The National Association of Realtors announced Friday that it had agreed to pay $418 million to settle more than a dozen antitrust lawsuits that accused NAR of imposing rules that inflated real estate commissions. NAR admitted to no wrongdoing, according to the news release.
Under the settlement’s terms, negotiations between buyers and sellers might become bleaker. Home sellers would pay smaller commissions, allowing them to keep more of the proceeds from sales. And