It could be the biggest shake-up to the real estate market in 100 years.

A new realtor settlement was announced last week by the National Association of Realtors after it was accused of conspiring to keep broker fees artificially high.               

It means commission fees could go down as much as 50%, which could result in thousands of dollars in savings for both buyers and sellers.     

“There’s a possibility very little will change because ultimately real estate commissions have always been negotiable,” John Ahnemann with Minnesota EXP Realty said. “The middle of July is when this would go into effect, where it will no longer be disclosed whether the seller is going to pay the buyer’s realtor. They may still choose to. It may end up something being negotiated as part of the contract.“

While the new rules are expected to lower home prices, experts say supply and demand, along with mortgage rates, will continue to be the biggest factors. 

If the new rules are approved, they’ll start in the middle of summer.