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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 settlement announced by the National Association of Realtors on Friday, which ended its litigation with some homesellers, is expected to fundamentally change the rules around how Americans buy ...
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.
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 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. Under NAR’s new deal ...
The NAR has contended that agent commissions are negotiable and competitive, a claim the Justice Department has disputed in legal filings. SEE MORE: Report says homebuyers need to earn $47,000 ...
Fees paid to Realtors during home sales in the United States average around 6% of the sale price, a percentage considered exceptionally high compared to rates in other developed countries such as Australia, Canada, and the United Kingdom. [3] [4] [5] Industry research shows that Americans pay $100 billion in commissions to real estate agents ...
Homebuyers and home sellers would instead pursue commission negotiation with real estate professionals, where the rule comes as the result of a proposed $418 million settlement, as reported by USA ...