Real Estate Industry Settlement Has Experts Mixed On Predictions For Home Buyers – Forbes Advisor lolita, 06/08/2024 Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors’ opinions or evaluations. The size of real estate commissions—and who pays them—could change dramatically now that the National Association of Realtors, or NAR, has agreed to pay $418 million to settle a series of antitrust lawsuits. As part of the settlement, buyers will now negotiate their agents’ fees directly, contracting with them before the home search begins. The changes are expected to go into effect by mid-July, pending court approval. By settling these cases, NAR releases 1 million of its members across the US from liability. The settlement could cut real estate commissions by thousands of dollars and lower home prices overall, saving money for both buyers and sellers, according to some experts. For years, brokers who listed homes on the NAR’s multiple listing service (MLS) were expected to pay a set commission to the buyer’s agent. The two sides would split a fee, typically about 6% of the home price. This fee, usually paid by the seller, was baked into the sales price and thus the buyer’s mortgage. In 2019, several antitrust lawsuits were filed by groups of home sellers who … Continue Reading