The new rules for real estate

The National Association of Realtors settled a class-action lawsuit in an agreement that will change how realtors’ fees work. Where home sellers typically used to cover a standard fee for the buyer’s agent, now many buyers will likely have to cover that fee, but they’ll be able to negotiate the percentage. Dr. Carter W. Murdoch, Executive Director of the Henderson Real Estate Institute at Drexel University’s LeBow College of Business, joins us to explain what this means for sellers, buyers, and realtors. Who will get more money, who might have to spend more, and how this could impact the real estate market.