Yes, it’s true. The National Association of Realtors recently reached a settlement in an antitrust lawsuit, which could potentially save home buyers thousands of dollars in broker commissions. Previously, the NAR rules required home buyers to pay real estate agents’ commissions, which were typically anywhere from 5% to 6%. This new settlement would eliminate those fees for home buyers.
While this settlement could potentially make buying a home more affordable for many people, it’s also important to note the potential implications for real estate agents themselves. They rely on these commissions as their income, so this change could significantly impact their earnings and how they conduct their business.
Remember that the details around how real estate transactions may change are still evolving, and it’s always crucial to consult with a trusted professional to understand the implications of these changes on your specific circumstances.
