"Real Estate Industry Faces Major Changes in Commission Rules and Settlements"
Redfin CEO Glenn Kelman believes that sellers could benefit from the recent NAR settlement, which will allow them to keep a greater portion of their home equity by changing the way commissions are handled in real estate transactions. The settlement, subject to court approval, will impact the compensation offered to buyer's agents through multiple listing services (MLS), potentially leading to changes in the industry where only one agent is involved in the sale. While it won't change the final price of a home, it could result in sellers retaining more of their hard-earned equity, with potential implications for both first-time buyers and those looking to move up in the housing market.