A Lenders Perspective on the NAR Settlement

In a groundbreaking development on March 15, 2024, the National Association of Realtors (NAR) settled a high-profile dispute, eliminating the standard 6% commission on home transactions and paying nearly half a billion in damages. This seismic shift in the real estate market sparked questions about NAR’s control over the narrative, with key settlement terms including changes to agent compensation structures and MLS regulations. The settlement’s ripple effects are expected to reshape the industry, impacting buyers’ choices and mortgage processes. Amidst uncertainties and pending court approvals, agents are advised to stay local and navigate these changes carefully to address potential consequences and define the industry’s future.