National Association of Realtors Eliminates Sales Commission Rules

The National Association of Realtors announced a settlement on Friday that eliminated its rules on sales commissions.The settlement is in response to multiple lawsuits claiming homeowners have been unfairly forced to pay artificially inflated commissions to Realtors when they sold homes.RELATED: Realtors agree to axe 6% commissions in NAR lawsuit settlementExperts say the settlement will likely lead to lower commissions – and, thus, lower sales costs – but it's not yet clear how much.

RELATED: This is how much money you need to 'live comfortably,' data showsHowever, Realtor Doug Rudnick pointed out that the 6% commission has always been negotiable and warned that sellers may find, "you get what you pay for.""Does the seller really want to reduce their price for that $10,000, $15,000, $20,000 that would have impacted it before? Human nature is usually not.

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