The National Association of Realtors has agreed to a landmark settlement that would eliminate real estate brokers' longstanding automatic commissions, commonly of up to 6% of the purchase price.

Instead, home buyers and sellers would be able to negotiate fees with their agents up front. If the $418 million legal agreement is approved by a federal court, consumer advocates predict the ranks of real estate agents will thin, further driving down commission prices.

Full story: https://www.nbcmiami.com/news/nationa...

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