"Real Estate Industry Faces Shift as Realtor Group Agrees to Cut Commissions"
TL;DR
The National Association of Realtors has agreed to pay $418 million in damages and amend rules on commissions to settle lawsuits, potentially leading to a significant drop in the cost of selling homes in the United States. This landmark deal could bring about one of the most significant changes in the U.S. housing market in a century, as it aims to eliminate the traditional 6 percent sales commission and could force a new business model in the industry.
Topics:businessreal-estate#commissions#housing-market#lawsuits#national-association-of-realtors#real-estate#settlement
- Powerful Realtor Group Agrees to Slash Commissions to Settle Lawsuits The New York Times
- 4 Ways a Settlement Could Change the Housing Industry The New York Times
- New wave of commission lawsuits targets smaller real estate brokers The Business Journals
- Ask a Broker: How will federal lawsuits on ‘co-op compensation’ affect real estate? Aspen Daily News
- In real estate commission cases, a funny thing happened on the way to the forum Reuters
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