The price to buy/sell a home is subject to change. Here's what you need to know.

According to a consumer victory in the latest federal lawsuit in Missouri, the amount you pay a realtor to buy or sell real estate may be going down. A jury in a case against the National Association of Realtors and several large brokerage firms found that the parties conspired to keep prices artificially high and recognized the rights of consumers, awarding $1.8 billion in damages. The amount could rise to more than $5 billion when antitrust rules are taken into account.

The real estate market has long operated on a commission model of 5% to 6% of the sales price, which is paid by the seller and split between the seller's agent and the buyer's agent. However, this lawsuit and another due next year in Illinois could change that practice by eliminating the option for the seller to pay the commission, said Stephen Brobeck, a senior official with the Consumer Federation of America. He noted that this jury decision could lead to changes that increase competition and lower prices in the real estate market. He said the changes could ultimately result in savings to consumers of $20 billion to $30 billion a year in real estate commissions. Consumer Federation of America predicts commission rates could drop from 5%-6% to 3%-4%.

The National Association of Realtors says it intends to appeal the court's decision. The judge should also decide how to revise the longstanding practice of paying commission, perhaps setting the market so that the seller does not have to pay commission to both agents. The winner in this situation would be the consumers - sellers and buyers - as the buyer's commission price was usually increased and added to the value of the home. Removing this requirement will allow sellers and buyers to negotiate with agents.

The rulings in Missouri and other lawsuits, including those filed by the Justice Department and the Federal Trade Commission, will lead to more transparency for real estate buyers and sellers about setting commission rates, paying them and, most importantly, the ability to negotiate, said real estate market analyst Ryan Tomasello of Keefe, Bruyette & Woods.

Surveys conducted by his company showed that around 75% of recent property buyers did not know how the agent was remunerated. In the new environment, agents will have to compete on quality and price, which may result in fewer buyers using agents or trading for a lower commission. Commissions on real estate sales in total could drop to 2% or more according to research by the firm Tomasello.

Some, however, believe prohibiting sellers from paying a commission for the buyer is disadvantageous to the consumer. Lack of loyal representation can lead to costly mistakes, especially for first-time and lower-income real estate buyers, said Rich Rosa, president of the National Association of Exclusive Merchant Agents, Inc. He believes that buyers need their own agent to advocate for their interests. He also said he hopes the changes won't create a market situation where only the wealthiest buyers can afford to hire an agent.

The organizations also noted potential racial disparities, especially among minorities such as Hispanic Americans. Prohibiting sellers from paying commissions to buyers' agents could give broker co-op representatives an advantage in transactions, said Gary Acosta, head of the National Association of Hispanic Real Estate Professionals. The changes could lead to inequities in the market and make it more difficult for native-born residents to access home buying, as well as hinder culturally competent representation and homebuyer education built on personal connections.

Changes are inevitable regardless of the judge's decision in the Missouri case, Redfin CEO Glenn Kelman said on his company's website. Redfin left the National Association of Realtors last month. Kelman noted that even weeks before the verdict, the National Association of Realtors updated its rules to allow agents to offer for sale homes with no commission to the buyer's agent. Kelman believes realtors should now communicate with sellers regarding buyer's agent compensation and say it's entirely up to the seller.