Revolutionizing Real Estate Commissions

For decades, an invisible hand has been guiding and controlling the American real estate industry, dictating how much buyers and sellers pay to their agents and how homes are sold. A few days ago, after a stunning legal settlement, that control — wielded by the National Association of Realtors — collapsed.

Debra Kamin, who reports about real estate desk for The Times, explains how the far-reaching change could drive down housing costs.

Guest: Debra Kamin, a reporter on real estate for The New York Times.

Background reading: 

• The National Association of Realtors agreed to a landmark deal that will eliminate a bedrock of the industry, the standard 6 percent sales commission.
• Read about five ways buying and selling a house could change.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday. 

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