Judge approves antitrust settlement that could impact American home sales

A federal judge in Missouri has granted preliminary approval to a $418 million antitrust settlement involving the National Association of Realtors (NAR), potentially ending the 5% to 6% standard commission followed in the US real estate market. The move could change how people buy and sell houses in the country. 

The settlement, set for final approval on November 26, allows sellers’ agents to stop offering commissions to buyers’ agents. The move is expected to reduce the inflation in housing prices, according to critics.

However, some worry it could raise costs for homebuyers as they would now have to pay their broker, a cost previously borne by the seller.

The NAR commission pricing changes are expected to take effect in late July.