📈 NAR verdict breaks the 6% residential commission cartel

“It should be that you get a flat rate, $10,000 at a million, and then you get 10% over a million or something.”

“No buyer would ever voluntarily agree to pay this massive commission. It's not worth it. So it's game over for the realtors if buyers are forced to pay their own brokers commission.”

“Is it going to change the profitability of a realtor? Pretty meaningfully, right?”

“I do project and I do expect that much of what is charged on a commission basis, on a percent of home value today, will change to being a fixed fee and a flat fee basis.”

“The settlement is likely to be that when you hire a broker, they will give you a form and you'll pick what percentage you want to pay. ... keep an eye on this one folks, because it's going to have a massive impact.”

“if the monopoly breaks on the marketplace, then the business model will get competed away, and there will start to be a change here. And I think that this lawsuit and the settlement ultimately leads to a shift in the industry that could certainly benefit consumers, but could have a negative economic impact because of the number of people that depend on brokerage fees as their job.”

“Here's how you'll know that the monopoly has ended, is when the buy side commission goes away.”