The 6% commission on buying or selling a home is gone after Realtors association agrees to seismic settlement

The 6% commission, a stardard in home purchase transactions, is no more.

In a sweeping move expected to dramatically reduce the cost of buying and selling a home, the National Association of Realtors announced Friday a settlement with groups of homesellers, agreeing to end landmark antitrust lawsuits by paying $418 million in damages and eliminating rules on commissions. 

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