What you need to know
The National Association of Realtors (NAR) agreed to settle a series of antitrust lawsuits in May 2024, admitting that its compensation rules, which required seller agents to advertise buyer agent commissions, unfairly reduced competition and inflated home prices.
The resulting settlement would see the the country’s largest trade organization agree to a series of industry-wide changes and pay over $400 million in damages.
Beginning on August 17th, 2024 we'll see two fundamental changes; first, buyers must now enter into a contract with an agent before that agent can show them any properties.. Second, agents can no longer advertise shared commissions in MLS listings. This could lead to sellers paying less or nothing towards buyer agent fees, potentially increasing costs for buyers.
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