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One plaintiff, Hollee Ellis, testified that she paid a total commission rate of 6% when she sold her home, and that she was never informed that the commission was negotiable. She netted $18,295 from the sale of her home, but 40% of that went to commissions paid to the listing agent from Coldwell Banker (a subsidiary of Anywhere Real Estate ...
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 ...
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 ...
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.
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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 ...
Equity Residential was sued in a class action in 2017 due to allegations that it charged late payment fees in violation of California law. [20] [21]In 2022, the company agreed to pay approximately $2 million to settle a lawsuit filed by Attorney General for the District of Columbia Karl Racine alleging that the company offered misleading rent discounts on a rent-controlled building in ...
The lawsuits in Missouri and now in South Carolina are all about real estate broker commissions, which typically total around 5-6% of a property’s selling price in the U.S. and are often split ...