A couple of weeks ago, the National Association of Realtors agreed to settle more than a dozen cases alleging that the organization and brokerage firms associated with it violated antitrust laws by setting industrywide standard commissions, paid by sellers of homes. The NAR agreed to pay $418 million in damages and adopt a new business model.
If a federal judge approves the settlement, commissions — currently set at 5 to 6 percent of the sale price of a home, in contrast to 1 ...