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Discussing the NAR settlement and its implications on real estate agent commissions. Exploring the perspectives of industry experts on the changes and the impact on agents and homebuyers. Analyzing the potential effects of altering commission structures on home prices and the evolving dynamics in real estate commissions.
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- NAR settling lawsuit eliminates commission sharing rule, potentially altering how listings display compensation.
- NAR requires buyer's agents to sign exclusive agreements before showing homes, shifting business dynamics for agents.
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Implications of NAR Settlement on Commissions
The National Association of Realtors settled a lawsuit regarding commissions, agreeing to pay $418 million. They will eliminate the commission sharing rule which dictated offers to buyer's agents, potentially affecting how real estate listings display compensation. This settlement does not necessarily mean a reduction in overall commissions, as commissions have been negotiable, but it may alter how agents disclose their fees.
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