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Anywhere Real Estate, Inc. RE/MAX, LLC; Jurors found that all the defendants in the case "knowingly and voluntarily" engaged in a conspiracy with the goal of "raising, inflating, or stabilizing broker commission rates paid by home sellers" by following and enforcing NAR's cooperative compensation rule.
Changes may soon be on the horizon for real estate commission rates after a Kansas City jury determined – in a $1.8 billion judgement in October – that commissions had been inflated and that ...
In central Ohio, the commission is often 3% of the sales price to each. A seller, for example, would pay a total of $18,000 ($9,000 to agents on each side) on the sale of a $300,000 home.
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 ...
Buckeye Check Cashing, Inc. v. Cardegna, 546 U.S. 440 (2006), is a United States Supreme Court case concerning contract law and arbitration.The case arose from a class action filed in Florida against a payday lender alleging the loan agreements the plaintiffs had signed were unenforceable because they essentially charged a higher interest rate than that permitted under Florida law.
It was conceptualized to hold auctions for high-priced real estate between a seller and a group of buyers. Local real estate agents receive 5-6 percent sales commission and Concierge Auctions charges 12 percent to buyers. Auctions range from $2 million to $100 million, but have an average of about $4 million. [10]
In Ohio, Konheim ran a gas station chain called George's Super Service Gas Stations and an auto-painting franchise called Deb. [1] [2] In 1947, Konheim founded Buckeye Construction Co., a real estate development company headquartered in Beverly Hills, California. [1]
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