RMAX—The way I see it, today's news will still adversely effect REMAX despite the previous settlement since I presume their realtors are affiliated with NAR. This would be an industry-wide change, rather than company-specific. I don't have a position in RMAX, but I wanted to share this news as I recall that some here were invested in it.
"Almost 9 in 10 home sales are handled by real estate agents affiliated with NAR. The organization, the country's largest trade association, requires home sellers to offer a non-negotiable commission, typically 6%, before listing homes on its property database, known as the Multiple Listing Service, or MLS."
"How will this impact real estate commissions? Notably, the landmark deal will slash realtors' standard 6% sales commission fee, potentially leading to significant savings for homeowners. The group had been found liable for inflating agent compensation.
Fees could be slashed by up to 30%, the New York Times reported, citing economists.
That could impact earnings for 1.6 million real estate agents, who could see their $100 billion annual commission pool shrink by about one-third, analysts with Keefe, Bruyette & Woods wrote in a report last year about the pending litigation.
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