ALBUQUERQUE, N.M. — Anyone trying to buy or sell a house knows it comes with a price tag. However, a settlement from the National Association of Realtors may mean more money in sellers’ pockets.

“When sellers are listing their house for sale before this agreement sellers would have an offer of compensation to a buyer’s broker,” said Austin Wolff, the Owner & Qualifying Broker, Lovely Home Company.

Before the settlement, the National Association of Realtors would require sellers to put down 6% as a commission to help sell their home.

This settlement, if it gets court approval, would take away that 6% commission fee, making it negotiable for the seller and buyer.

“Sellers are likely going to get more money in their pocket or just buyer-broker compensation is broadly more negotiable. Sellers can agree to not offer compensation. Or they can agree to still offer compensation it’s just not listed anymore as a guarantee,” said Wolff.

He also said sellers should still plan on some kind of compensation. Realtors will have to advocate for themselves between the seller and buyer.

“Realtors are more likely to see less compensation for their work because they are going to have to negotiate for themselves it is not just a guarantee anymore,” he said.

Some experts said this may drive down the price of houses, but Wolff said he doesn’t see them coming down too much.

If the court approves the settlement it will go into effect in July 2024.