The National Association of Realtors (NAR) has agreed to pay $418 million after reaching a settlement in a lawsuit where a federal jury ruled the organization had conspired to inflate commissions.

In Jerrod's words, the settlement has resulted in "a deviation" across the real estate industry. He explains the change that requires brokers to create a written document outlining all the services they will provide for buyers, as well as the cost of each service, will make "a clear difference."

This ruling will not prompt home prices to come down, as sellers have "a one-time chance" to make profits on their house. However, Jerrod advises that if you want to buy a house, the time is "right now." As people wait for rates to fall before entering the market, he warns that the optimal time will see "everybody in the market," and he questions, "Why would you wait for that?"