Due to a lawsuit, the National Association of Realtors is changing its commission rules. Home sellers will now pay less, while buyers may pay more for agent services. The lawsuit and settlement challenge NAR's traditional commission structure, paving the way for new models like flat fees. This could disrupt the industry, leading to new competitors and potential changes in how real estate agents are compensated.
A new settlement in Illinois and Missouri has changed how real estate commissions work. Sellers can now negotiate their agents' commissions, potentially saving thousands of dollars. Buyers may need to pay their own agent's fees, but they can also consider flat fees or hourly rates. This settlement gives buyers and sellers more flexibility and control in the real estate process.
