Want to lower home prices? Break up the realtor cartel.

We’ve been arguing for open markets for real estate agents for years, which cut the cost of agency fees for buying a house by two to four percent. On a $500,000 home, that’s $10,000 to $20,000 savings.

The Supreme Court, last week, rejected the case REX v. National Association of Realtors, which challenged the “non-commingling rule” that banned sites using MLS listings from showing non-MLS listings in their results. But the pressure from the case caused the NAR to rescind the rule anyway.

We’re optimistic that this and previous litigation that was settled earlier this year may finally end the real estate agent legal monopoly that often precluded lowering prices. This absurd realtor “tax” of up to 6% on the cost of a new home costs buyers and sellers up to $100 billion a year. The fees could be cut in half with a competitive market.

Here’s our 2021 take on this issue: