Why am I paying that other agent? You're listening to Motley Full Money. I'm Ricky mallvie. I'm Ricky

I'm Ricky

mow.

I'm Ricky mallvie.

I'm Ricky Malvey.

Joined today by Nick Saipel. Nick, thanks for being here.

Great to be here with you, Ricky.

So this is a big story, so it's going to be the most of today's A segment.

The National Association of Realtors is paying a

418 million dollar settlement essentially over the way that it baked fees into homes listing prices.

Now Dylan and Maddie hit this a couple of Fridays ago when it was just an ounce but

you were on a heater about this on our members only live stream full live on the morning show and I wanted to I wanted to bring it on Motley full money

So the implications are becoming a little bit clearer, but Nick, to set the table, how did real estate commissions work before this settlement was agreed to or happened?

Sure, yeah, prior to this settlement, which again goes back to a federal antitrust case

that the National Association of Realtors and a number of other realtors lost back in the fall. Listing agents were the agents that work for the seller

in a home transaction would include in their listing on the multiple listing

service where you put a homes for sale and what have you. An offer to split

their commission with buyers

agents whose job is as it sounds like to guide buyers through the buying transaction

although commissions have always been negotiable in theory the real crux of this

antitrust case is that they were inflated

by rules by the National Association of Realtors, which required listings on the multiple listing

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