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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 ...
Real estate brokerages may get a cut of the commission as well. The brokerage RE/MAX, for example, has a split commission setup by which its agents receive 95 percent of the full commission from ...
On Aug. 17, the rules governing real estate agent commissions are changing. Some experts say the shift should eventually reduce costs for consumers.
The Real Estate Settlement Procedures Act (RESPA) was a law passed by the United States Congress in 1974 and codified as Title 12, Chapter 27 of the United States Code, 12 U.S.C. §§ 2601–2617.
In United States law, a lis pendens (Latin for 'suit pending' [1]) is a written notice that a lawsuit has been filed concerning real estate, involving either the title to the property or a claimed ownership interest in it. The notice is usually filed in the county land records office.
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 ...
Real estate commission rates used to typically total around 6 percent of a home's sale price, but in recent years, that amount has been closer to 5 percent. Due to a recent lawsuit, sellers will ...
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 ...