The National Association of Realtors (NAR) will eliminate rules that fostered a standard 5 percent to 6 percent sales commission as part of a $418 million settlement with home sellers.

The powerful realtors organization agreed to pay $418 million in damages to settle several lawsuits from home sellers, it was announced in a press release. The lawsuit alleged that the association’s commission rules forced home sellers to pay excessive fees, according to The New York Times.

“NAR has worked hard for years to resolve this litigation in a manner that benefits our members and American consumers,” Nykia Wright, the NAR’s