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How does the National Association of Realtors' settlement affect you?

·1 min

The National Association of Realtors recently reached a $418 million settlement for antitrust claims. This settlement could lead to significant changes in the real estate industry, including ending long-standing rules and guidelines that made a 6% commission the norm. The proposed changes have the potential to transform how Americans buy and sell homes, as well as impact the number of agents in the sector. Economists predict that the cost of buying a home may decrease, but it could also result in higher upfront costs, making it harder for lower-income and first-time buyers. What are your thoughts on how these changes could affect you if you work in real estate or plan to buy or sell a home soon?