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Shares of Zillow have dropped nearly 20% since Thursday as investors feared that lower commission rates for agents could lead to less business for the real estate platform.
New Mexico. 5.90%. New York. 5.39%. North Carolina. ... you could consider working with a low-commission real estate agent, who will likely charge much less than a traditional agent would (usually ...
For decades, if you wanted a real estate agent to help you buy or sell a home, the model was static. At the close of escrow, the seller typically used their proceeds to pay a 5% to 6% commission ...
While the DOJ and FTC monitor and challenge real estate laws or changes to law perceived as anti-competitive in all States, this Press Release from April 2005 is an example of their effort: "The Department of Justice and the Federal Trade Commission (FTC) issued a joint letter urging the state-created Texas Real Estate Commission to reject a ...
Flat-fee real estate agents charge a seller of a property a flat fee, $500 for example, [11] as opposed to a traditional or full-service real estate agent who charges a percentage of the sale price. In exchange, the seller's property will appear in the multiple listing service (MLS), but the seller will represent him or herself when showing the ...
Zillow Group, Inc., or simply Zillow, is an American tech real-estate marketplace company that was founded in 2006 [4] by co-executive chairmen Rich Barton [5] and Lloyd Frink, former Microsoft executives and founders of Microsoft spin-off Expedia; Spencer Rascoff, a co-founder of Hotwire.com; David Beitel, Zillow's current chief technology officer; and Kristin Acker, Zillow's current ...
Real-estate industry rocked by $1.8 billion verdict finding ‘conspiracy’ to force sellers to pay illegal commission fees. ... paid to real estate agents. The jury ordered NAR and others to pay ...
Estate agents' fees are charged to the seller of the property. Estate agents normally charge the seller, on a 'no sale, no fee' basis, so that if the property doesn't sell, then the customer will not pay anything to the estate agent and the agent will have worked for the customer, free of charge.