Anywhere Real Estate agreed to rule changes over buyer’s agent commission and National Association of Realtors membership as part of its settlement in two landmark antitrust lawsuits. The parent company of Corcoran, Coldwell Banker and Sotheby’s International announced the specifics of the agreement on Friday, about a month after it chose to pay $83.5 million […]

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Anywhere Real Estate Settles Commission Lawsuit with Rule Changes

Key Points

• Anywhere Real Estate agrees to rule changes in buyer’s agent commission and National Association of Realtors (NAR) membership
• Settlement reached in two landmark antitrust lawsuits
• Parent company of Corcoran, Coldwell Banker, and Sotheby’s International to pay $83.5 million
• Changes aim to increase transparency and competition in the real estate market

Rule Changes and Implications

Buyer’s Agent Commission

As part of the settlement, Anywhere Real Estate has agreed to make changes to the buyer’s agent commission rules. This move is expected to increase transparency and competition in the real estate market, ultimately benefiting homebuyers.

National Association of Realtors Membership

Another significant change is the alteration of NAR membership rules. This will potentially open up the market to more real estate professionals and create a more competitive environment for homes for sale.

Expert Insight: Jessica Fulk

Real estate expert Jessica Fulk weighs in on the implications of these rule changes. She suggests that potential homebuyers and sellers should ask the following questions:

“How will these rule changes impact the way Realtors work with their clients? Will there be more transparency in the commission process?”

“How might the changes to NAR membership rules affect the real estate market? Will we see more competition among Realtors and better options for homes for sale?”

Hot Take

The settlement of these two landmark antitrust lawsuits and the resulting rule changes in buyer’s agent commission and NAR membership are significant developments in the real estate industry. These changes aim to increase transparency and competition, ultimately benefiting homebuyers and sellers. As the market adapts to these new rules, it will be crucial for Realtors and clients alike to stay informed and adapt their strategies accordingly.

Orginal article: Link To Article – provided by Kansas City Realtors