The National Association of Realtors (NAR) recently announced a landmark settlement in antitrust lawsuits, signaling the end of the standard 6% commission in home transactions. With $418 million in damages paid and commission rules eliminated, the real estate market is poised for transformation.
These changes primarily affect NAR-affiliated agents, while non-NAR brokerages remain unaffected. This diversity in approach is expected to foster innovation and competition in the industry.
For agents feeling concerned, it’s important to understand that while this marks a significant change, it doesn’t spell the end of buyer agency. Real estate agents will continue to play a vital role in facilitating transactions.
Contact us for more information and navigate the evolving real estate landscape with confidence.