In a recent development, the President announced significant changes in the real estate industry following the National Association of Realtors’ (NAR) settlement agreement. This new agreement empowers consumers to negotiate agent commissions, marking a major shift in the traditional real estate market. This move is expected to bring greater transparency and flexibility to the home buying and selling process.

Key points from the announcement include:
– NAR settlement agreement allows consumers to negotiate agent commissions for the first time
– Consumers now have greater control over the costs associated with hiring a real estate agent
– This change is likely to introduce more competition and drive innovation in the real estate industry
– The move is expected to bring more options and cost savings for consumers looking to buy or sell a home.

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