Real estate settlement opens door to lower costs for home buyers and sellers

Sellers may be eligible for compensation from a $418 million settlement fund if they sold a home in the last decade and paid an inflated commission
Commissions are likely to become more negotiable, leading to more competition and lower costs overall
Sellers may opt not to pay buyer agent commissions, meaning buyers have to pay those fees out of pocket on top of other costs
Paying for a buyer's agent could be challenging for first-time homebuyers with limited funds
People considering buying or selling in the next 6 months may want to discuss timing with their agent given the upcoming changes