The National Association of Realtors has reached a nationwide settlement that could change the way real estate agents are compensated. Critics say the current system artificially inflates agents' commissions.
For years, sellers have effectively set the commission paid to buyers' agents as a condition of using a multiple listing service (MLS) — a regional roundup of homes for sale. The combined commission — shared by buyers' and sellers' agents — is typically 5% to 6%, which is higher than in most other countries.
