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As part of the settlement, the NAR is changing its policies involving commissions, which could eliminate the standard 5%-6% fee typically tacked onto a housing transaction. That fee is generally ...
The settlement reached by the National Association of Realtors (NAR) over real estate agent commissions could end up hurting an already beleaguered group: homebuyers.. The $418 million deal ...
One home seller in Minnesota, Matt Hanley, told CNN last month that when he lists his home this spring, he plans to offer a 0% commission to the buyer’s agent, effectively forcing a potential ...
The National Association of Realtors has agreed to a landmark settlement that would eliminate real estate brokers' long-standing commissions, commonly of up to 6% of the purchase price.
A powerful real estate trade group has agreed to do away with policies that for decades helped set agent commissions, moving to resolve lawsuits that claim the rules have forced people to pay ...
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 new rules “should lead to commissions falling 25% to 50%, which we view as benefiting online real estate brokers,” Seiberg wrote, but he warned it’s too early to declare “the end of ...
Homebuyers and home sellers would instead pursue commission negotiation with real estate professionals, where the rule comes as the result of a proposed $418 million settlement, as reported by USA ...