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Ken H. Johnson, a real estate economist at Florida Atlantic University and a former real estate broker, says the new rules just add another layer of complexity to an already-confusing process.
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 real estate commissions are technically negotiable, in the U.S. they usually run to 5 to 6 percent of the home sales price, among the highest fees in the world. The buyer’s agent usually ...
By some estimates, real estate commissions could fall between 25% to 50%, according to a March analysis by TD Cowen Insights. ... For more CNN news and newsletters create an account at CNN.com ...
Jeremy Keel, another plaintiff, testified that he paid a 6% commission, with 3% going to the Keller Williams agent he hired and 3% going to the buyer's agent from ReeceNichols. He said that the commission rates were already filled in on the contracts he signed, and that he didn't know that commissions could be negotiated. [12]
Long ago, 6 percent was the going rate for real estate commissions; 3 percent to each agent. But after decades of competition and regulatory scrutiny, the typical commission now is slightly less ...
On Aug. 17, the rules governing real estate agent commissions are changing. Some experts say the shift should eventually reduce costs for consumers. Real estate agent commission rules change Saturday.
The real estate industry is rolling out new rules for paying buyers' and sellers' agents beginning Aug. 17 in a move that advocates say could lower overall commissions, but also put pressure on ...