Buyers’ Brokers Will Have to Work Harder After $418 Million Settlement, Realtor Says

The$ 418 million settlement in the long-running lawsuit against the National Association of Realtors ( NAR ) has drawn harsh criticism from many real estate industry players who fear the market will turn into chaos if it abandons the Multiple Listing Service ( MLS ) and the long-standing 6 percent commissions, but the settlement will ultimately promote transparency and weed out brokers who do not offer value to clients.
That’s the perspective of Michael Downer, a agent at Coldwell Banker Realty in Naples, Florida. ” I believe the lawsuit is fantastic information for both the real estate industry and the general public. It adds a level of transparency that has been lacking”, Mr. Downer told The Epoch Times….

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