Christine Romans is a senior business correspondent at NBC News.
The historic $1.78 billion Realtors verdict in Kansas City, Missouri, this week could trigger a major disruption in the housing market, but it’s unclear when millions of people will know how the decision will affect residential real estate costs. The case hinged on the commissions, usually of 6%, that sellers pay their agents, who then split them with the buyers’ agents. It has been a cornerstone of how the National Association of Realtors — a powerful trade group of 1.
But for now, the practice remains intact at a time of historically challenging conditions for buyers and sellers alike. “Nothing changes today,” Bess Freedman, the CEO of the luxury brokerage Brown Harris Stevens, said of the ruling. Her firm, a member of the NAR, wasn’t involved in the litigation — whose outcome she said won’t tackle the real pain point for consumers, which comes from historically pricey mortgages.
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