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The National Association of Realtors announced a significant settlement in a lawsuit regarding agent commissions, totaling $418 million. As part of the settlement, the disclosure of agent commission fees will be removed from multiple listing services. This change allows home sellers to pay only their agent's commission, a practice already common in California but not industry-wide. Consequently, home buyers may now be responsible for paying their own real estate agent fees. Professor Emeritus Norm Miller from the University of San Diego discussed the implications of this settlement, noting that it aims to separate buyer and seller fees, fundamentally altering the real estate commission structure.
