An agreement between the National Association of Realtors and the plaintiffs charging artificial inflation of commissions paves the way for the end of the industry standard 6 percent in agent fees.
Many L.A. industry leaders were cautious in their assessment of the proposed agreement. “Regarding the NAR settlement, we are still in the early innings of this game,” Stuart Vetterick, broker associate at Hilton & Hyland/Forbes Global Properties, told THR. “It will be critical for everyone in and around this industry to pay close attention as each aspect of the plan is worked through and disseminated.””
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