New York CNN —
The entire US housing market is about to get remodeled, and the end product could come with a big perk: cheaper home prices.
That’s due to a $418 million settlement the National Association of Realtors announced Friday with groups of homesellers.
The settlement, which is still subject to a judge’s approval, will eliminate the long-standing standard 6% commission paid by the seller. Those fees, however, are often baked into the listed price of the home. Lower commissions could therefore lower home prices, experts say.
And at a time when elevated
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