90% of homebuyers have historically opted to work with a real estate agent or broker. Here’s why that’s unlikely to change, according to the National Association of Realtors

by anastasiakaufman-chime-me

BYTIM HUR

April 3, 2024 at 4:42 AM PDT

DAVID RYDER – BLOOMBERG – GETTY IMAGES

The National Association of Realtors has agreed to settle litigation over commission rules for U.S. real estate agents, clearing the way for possible changes in how Americans buy and sell homes.

Last month, the National Association of Realtors announced a settlement that would resolve nationwide litigation over claims from home sellers related to broker commissions.

The $418 million settlement, and the practice changes it will usher in, have led some to speculate that real estate agents are at risk of becoming obsolete. As someone who has practiced real estate for 15 years, nothing could be further from the truth.

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