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Rhonda Burnett, the lead plaintiff, testified about her experience with a real estate agent from HomeServices of America subsidiary ReeceNichols. According to Burnett, the agent gave her a contract to sign with a commission rate of 6% already filled in, and she was told that the rate was non-negotiable. [12]
The $418 million deal announced last Friday would resolve litigation brought by home sellers accusing the trade group of setting unlawful agent commissions and indirectly inflating home prices.
A real estate company owned by Warren Buffett’s Berkshire Hathaway has agreed to pay $250 million to settle lawsuits nationwide claiming that longstanding practices by real estate brokerages ...
On Aug. 17, rules surrounding real estate commissions are set to change thanks to a legal settlement between the National Assn. of Realtors and home sellers. Proponents hope the new rules will ...
The cases. The rumblings of this shakeup intensified on Oct. 31 when a unanimous eight-member jury concluded that since 2015, NAR and its broker co-defendants who belong to NAR’s professional ...
A landmark agreement would eliminate real estate brokers' automatic commissions of up to 6%, potentially saving home buyers and sellers thousands of dollars.
As of 2020, the total population was 50,679, [4] making it the second most populous municipality of Lucas County, Northwest Ohio, and the 419 / 567 area codes (behind only Toledo). The township entirely encompasses the city of Sylvania. Excluding the city of Sylvania, the remainder of the township had a population of 31,668 in 2020.
The structure has kept average commissions near 5%, even though technology has made the home-buying process more efficient and the number of real estate agents has climbed, making competition more ...