Biggest shakeup in a century set to hit real estate agents this week: Here's how they're preparing

Realtors in the United States are preparing for significant changes in their industry. Starting on August 17, new rules will be implemented that will impact the way Realtors are compensated for their services. These changes are a result of a multimillion-dollar settlement announced by the National Association of Realtors. The rules aim to eliminate the traditional payment structure where home sellers typically paid a 5% or 6% commission split between their agent and the agent representing the buyer. The changes have led to mixed opinions among Realtors, with some predicting new business models and potential industry departures.