The issue is pretty complicated but there are three main issues that are addressed in the lawsuit:
1) It will no longer be assumed that Sellers will pay the Buyer's agent's commission.
2) The "cooperative broker" commission figure that was paid by the Seller will no longer be listed in the MLS. (It doesn't mean the Seller can't pay the Buyer's agent's commission, it just can't be listed in the MLS.)
3) Buyers will have to sign a Buyer/Broker agreement with an agent before the agent can show them any property. This agreement will spell out how much the Buyer will pay the agent at the conclusion of the transaction. If the Seller is willing to pay the Buyer's agent's commission that can/will cover the commitment the Buyer made in their initial agreement.
There is a great deal that needs to be resolved (for example, the VA doesn't allow their VA buyers to pay real estate commissions so that will have to be addressed) and the court has to approve this settlement but if they do the changes will be in place in mid-July.
If you want greater detail on this check out my YouTube video on the settlement. There will be much more coming out on this in the future so stay tuned for more specifics as they are determined.