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The settlement reached by the National Association of Realtors (NAR) over real estate agent commissions could end up hurting an already beleaguered group: homebuyers.. The $418 million deal ...
How to apply for a settlement in the real estate commission lawsuit The only way to receive payment is by submitting a claim form by May 9, 2025. Forms can be submitted online at www ...
The National Association of Realtors has agreed to a landmark settlement that would eliminate real estate brokers' long-standing commissions, commonly of up to 6% of the purchase price.
On March 15, 2024, the National Association of Realtors announced that it would settle the lawsuit rather than appeal. The group agreed to change how commissions are paid and to pay back $418 million over four years. [16] The judge presiding over the case granted preliminary approval to the settlement on April 23, 2024. [17]
As part of the settlement, the NAR is changing its policies involving commissions, which could eliminate the standard 5%-6% fee typically tacked onto a housing transaction. That fee is generally ...
A powerful real estate trade group has agreed to do away with policies that for decades helped set agent commissions, moving to resolve lawsuits that claim the rules have forced people to pay ...
While the settlement does not explicitly spell the end of the traditional 6% commission, split between the seller’s agent and the buyer’s agent, commissions are expected to fall because they ...
A groundbreaking $418 million settlement announced Friday by the powerful National Association of Realtors is set to usher in the most sweeping reforms the American real estate market has seen in ...