Realtors Are Punished For Overcharging Sellers

A $418 million settlement that will change the way Americans buy and sell homes forever has received preliminary approval from a federal judge. The National Association of Realtors (NAR) was accused of artificially raising commissions by enabling brokers to collude on sales. Homeowners who sold properties in the last 7 years may now qualify for a payout, though they must submit a claim by May 9, 2025. Eligible sellers must have listed the home on a multiple listing service (MLS) and paid a commission to a real estate brokerage. The NAR — which has 1.5 million members — will begin implementing sweeping rule changes to the way their agents operate beginning in September.