NAR Settlement: How This Will Change How Buyers and Sellers Pay Real Estate Agents
A $418 million settlement calls for the Chicago-based National Association of Realtors (NAR) to eliminate decades-old rules on commissions and make it easier for buyers to negotiate fees with their own agents or use no agents at all, Reuters reports. The accord resolves claims against more than 1 million members, state and local realtor associations, and most smaller brokerages. What's In The Settlement? The March 15 settlement comes after several years of litigation, including class-action