Realtor Settlement Sparks Major Commission Overhaul

Zillow's stock dropped 15% after the National Association of Realtors settled claims of commission conspiracy, potentially leading to lower commissions for homebuyers and sellers. The $418 million settlement will likely impact how consumers buy and sell homes, with real estate names like Anywhere Real Estate, Compass, and Redfin also experiencing declines. The new rules are expected to reduce agent commissions by 25-50% and benefit online and discount real estate brokerages, while potentially disadvantaging first-time and less-wealthy buyers. The settlement also adds to the financial and administrative challenges the NAR has been facing, including the recent resignation of its former CEO and president.