Overview

• The National Association of Realtors agreed to a $418 million settlement to resolve antitrust allegations, changing how commissions are handled.
• A federal judge granted preliminary approval to the settlement, with final judgment expected in November.
• The settlement could lead to a decrease in overall commission rates, making them competitive and negotiable.
• Industry experts are divided on the long-term impact of the settlement on the real estate market, with potential benefits for sellers but added costs for buyers.
• Changes prompted by the settlement are anticipated to start taking effect in late July, altering traditional home buying and selling practices.