Realtor Compensation Gets Overhauled: How Does It Affect Nashville?
Feverpitched via iStockPhoto For decades, the National Association of Realtors (NAR), a trade association with over 1.3 million members, has established guidelines for structuring compensation for realtors representing homebuyers and sellers during most home sales in the United States, However, on August 17th, 2024, new NAR practices went into effect following a settlement between the NAR and a class of plaintiffs across the United States. In the antitrust lawsuit, plaintiffs asserted that the NAR’s guidelines for compensating realtors were anticompetitive and increased home prices through compensation structures that shared commissions between the realtors of homebuyers and home sellers. How have…