Posted 3/15/2024, 6:12:43 PM
NAR Settlement Paves Way for Lower Real Estate Fees, Benefiting Home Sellers and Online Brokers
- NAR reaches $418 million settlement over claims it conspired to boost agent commissions, paving way for lower fees
- Settlement puts end to rules requiring sellers to pay buyer's agent commissions
- Will likely lead to 25-50% drop in commissions, benefiting online and discount brokers
- Existing homeowners stand to benefit most from paying lower fees when selling
- Adds to recent turmoil for NAR with CEO resignation after $1.8 billion verdict, president resigning amid blackmail scandal