News
By Tom Gantert | The Center Square, Just the News
03-16-24
The National Association of REALTORS has reached a legal agreement where it will end the 6% commission that is routine in home sales.
In the settlement with homeowners, the association will pay $418 million in damages and end litigation on the matter.
Experts say that Americans pay $100 billion a year in real-estate commissions.
Andrew Lokenauth, who writes a finance newsletter, said on X that the deal would end the standard 6% commission and lead to more competition among realtors. He said it could lead to a 30% reduction in commission.
Read the full article here: End of realtor commission model poses biggest ‘jolt’ in housing in 100 years | Just The News
