National Association of Realtors Settlement to Alter Home Buying and Selling Dynamics in the US

Published: 16 March 2024 at 00:18

The National Association of Realtors has reached a $418 million settlement that will change how Americans buy and sell homes, aiming to create fairer rules for buyers and sellers in the overheated housing market. The settlement will eliminate the 6% commission, prohibit agents\' compensation from being listed on local portals, and require written agreements between buyers and brokers. The new rules are expected to reduce commissions by 25% to 50%, prompting brokerages to offer varied services. Buyers may now potentially pay agents directly, though it is not mandatory.

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