Do Miami Condo Buyers Now Have To Pay Broker Commissions?

Florida Realtors® association General Counsel Juana Watkins recorded a video message explaining the repercussions of the newly implemented National Association of Realtors® $418 million settlement.

Juana Watkins is the general counsel for the Florida Realtors association, which has some 238,000 members in the sunshine state. (Image courtesy of YouTube)

lorida’s residential real estate industry forever changed this week with the implementation of rule modifications resulting from the National Association of Realtors® $418 million settlement of “antitrust claims.”

The changes – which are the result of “claims brought on behalf of home sellers related to broker commissions” – went into effect throughout the country on Aug. 17, 2024, for the more than 1.5 million-member organization, according to an NAR statement.

The repercussions are huge in Florida where the statewide association has some 238,000 members. Of that, more than 60,000 members belong to the Miami Association of Realtors® and an additional 42,000 members are part of the Broward, Palm Beaches & St. Lucie Realtors® association.

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