Realtor group agrees to slash commissions in major $418M settlement ...Middle East

The National Association of Realtors (NAR) will eliminate its standard 5-to-6 percent sales commission as part of a $418 million settlement with home sellers. The powerful realtors organization agreed to pay $418 million in damages to settle several lawsuits from home sellers, it announced in a press released. The lawsuit alleged that the NAR’s commission rules forced home sellers to pay excessive fees, according to The New York Times. “NAR has worked hard for years to resolve this litigation in a manner that benefits our members and American consumers,” Nykia Wright, the interim CEO of NAR, said in a statement. “It has always been our goal to preserve consumer choice and p

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