The powerful National Association of Realtors has agreed to eliminate rules on commissions to settle lawsuits in which sellers accused it of running up fees, in what will be a massive change to the housing market and real estate industry.
The NAR announced it was settling the lawsuits on Friday, agreeing to pay $418 million in damages. The move has implications for the real estate world and is expected to cause the cost of selling a home to drop.
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