Real Estate Commission Changes Set to Revolutionize Home Buying and Selling

A landmark settlement will alter commission structures, potentially saving buyers and sellers billions.

Recent settlement in a class-action lawsuit against the National Association of Realtors mandates changes to real estate commission structures.
The changes, expected to be implemented by summer 2024, could disrupt the $100 billion commission business, halving agent fees.
Buyers and sellers will gain negotiating power over commissions, leading to potential savings on home purchases and sales.
Experts predict a more competitive real estate market, with potential for agents to exit the industry due to reduced earnings.
The settlement is unlikely to lower home prices directly, but could increase market activity by making the buying and selling process more affordable.