"Real Estate Industry Faces Shift as Realtor Group Agrees to Cut Commissions"

The National Association of Realtors has agreed to pay $418 million in damages and amend rules on commissions to settle lawsuits, potentially leading to a significant drop in the cost of selling homes in the United States. This landmark deal could bring about one of the most significant changes in the U.S. housing market in a century, as it aims to eliminate the traditional 6 percent sales commission and could force a new business model in the industry.