National Association of Realtors Settlement Announcement May Have Sweeping Implications
Summary
The homebuying market as we know it is about to see sweeping changes. On Friday, March 15, 2024, the National Association of Realtors (NAR) announced a settlement with groups of home sellers, agreeing to end antitrust lawsuits against it. The NAR is going to pay $418 million in damages and eliminate rules on commissions. This agreement will change the current homebuying and selling model when using a real estate agent.