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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 NAR currently represents about 1.6 million Realtors, with 90% of agents cashing in an average commission of 5% to 6% — equal to $100 billion in annual commissions.
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 ...
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 ...
Nevertheless, in an illiquid real estate market or if real estate prices drop, the property being foreclosed could be sold for less than the remaining balance on the primary mortgage loan, and there may be no insurance to cover the loss. In this case, the court overseeing the foreclosure process may enter a deficiency judgment against the ...
September: The Mortgage Insurance Companies of America send a letter to the Federal Reserve, warning about 'risky lending practices' in US real estate. [ 89 ] Fall 2005 : Booming housing market halts abruptly; from the fourth quarter of 2005 to the first quarter of 2006, median prices nationwide drop 3.3 percent.
Hire a discount agent: A low-commission real estate agent will likely charge much less than a traditional agent would — usually 1 to 1.5 percent of your home’s sale price. (However, you might ...
The United States District Court for the District of Arizona granted the Town's motion for summary judgment. [30] The church then appealed that ruling to the United States Court of Appeals for the Ninth Circuit, but the Ninth Circuit affirmed the judgment of the district court, holding the town's ordinance was content neutral. [30] Citing Hill v.