The Historic Lawsuit

A major lawsuit that Jimmy and his team were part of, just changed how real estate works in America, and it could save you thousands when selling your home. In 2023, a federal jury ruled that the National Association of Realtors (NAR) and several big real estate companies broke antitrust laws by forcing home sellers to pay excessive commissions. After originally being hit with a $1.8 billion verdict, NAR settled for $418 million in March 2024, and the new rules took effect in August 2024. For decades, sellers were essentially required to pay both their own agent and the buyer’s agent (typically around 6% total) just to get their home listed. That system is now gone.

Here’s what this means for you: experts estimate these changes will save American consumers between $20 and $50 billion every year in real estate fees. On a $500,000 home, negotiating the commission down from 6% to 2% saves you $20,000 at closing. Under the new rules, buyers are now responsible for paying their own agent’s commission, though they can ask you as the seller to cover it—but it’s completely your choice whether to agree. This puts you in control. The bottom line: selling your home just became more affordable and you have more control over the costs.