A $418 Million Settlement Could Change U.S. Home Buying. But Who Benefits?

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SAN ANSELMO, CALIFORNIA – A “sale pending” sign is posted in front of a home for sale in San Anselmo, California. (Photo by Justin Sullivan/Getty Images)
For many people, buying or selling a home can be a huge financial decision.

But a recent class-action settlement could change the way U.S. homes have been sold for over a hundred years.

Last year a jury found that realtors had conspired to keep commissions artificially high.

Now, the National Association of Realtors has reached a settlement that could put an end to sellers paying a 6% commissions on home sales.

While the settlement could lower the cost of selling a home, it could also force some real estate agents out of business.

NPR’s Sacha Pfeiffer and Scott Horsley break down how the settlement could impact the real estate industry and how to find out if you are eligible for a piece of the $418 million-dollar class-action settlement.

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This episode was produced by Marc Rivers. It was edited by Jeanette Woods and Julia Redpath. Our executive producer is Sami Yenigun.