Settlement could change how New Mexicans buy and sell homes – By Rozanna M. Martinez (Albuquerque Journal) / March 16, 2024
A nationwide settlement ending litigation brought on behalf of home sellers related to broker commissions could mean homes will be cheaper to purchase.
The expected ruling, which would go into effect in July, makes it easier for home buyers to negotiate fees with Realtors or skip working with agents. The upside for buyers would mean driving down commission rates.
The end result could lead to hundreds of thousands of Realtors being pushed out of the industry, according to real-estate industry analysts.
