The entire U.S. housing market is about to get remodeled, and the end product could come with a big perk: cheaper home prices. That’s due to a $418-million settlement the National Association of Realtors announced with groups of home-sellers on Friday. The settlement, which is still subject to a judge’s approval, will eliminate the long-standing industry standard 6-percent commission paid by the seller. Those fees, however, are often baked into the list price of the home. Lower commissions could, therefore, lower home prices, experts say.
The entire U.S. housing market is about to get remodeled, and the end product could come with a big perk: cheaper home prices. That’s due to a $418-million settlement the National Association of Realtors announced with groups of home-sellers on Friday. The settlement, which is still subject to a judge’s approval, will eliminate the long-standing industry standard 6-percent commission paid by the seller. Those fees, however, are often baked into the list price of the home. Lower commissions could, therefore, lower home prices, experts say.
Realtors Association Reaches $418 Million Settlement to Resolve Nationwide Claims by Home Sellers Over Commission Fees
The nation’s largest real estate trade group agreed to a landmark deal that would change how Americans buy and sell their homes.
Under the agreement reached on Friday, the National Association of Real...
Read More