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Realtor settlement on commission-fixing could create seismic changes in how Americans buy homes

·1 min

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The 6% commission, a standard in home purchase transactions, is no more.

The National Association of Realtors has settled antitrust lawsuits by agreeing to pay $418 million in damages and eliminating rules on commissions. The settlement aims to reduce the cost of buying and selling homes. In November, a jury found the NAR and two brokerages liable for conspiring to keep agent commissions artificially high. The NAR had planned to appeal the case, but other brokerages settled. The story is still developing.