Real estate industry braces for shake-up as new rules roll out

Aug. 17 will mark major changes for the real estate industry and the rollout of new rules about how Realtors are paid for buying and selling homes.

The changes are coming about because the powerful real estate trade group, the National Association of Realtors, agreed in March to settle lawsuits in which sellers accused the group of running up fees. At the time, the group agreed to pay $418 million in damages, but it also agreed to change the way commission rules work — a change that will go into effect within the week.