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The verdict in the NAR lawsuit has made it likely the real estate industry won’t be able to charge 5%-6% commission rates across the board, writes Stephen Brobeck.
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 ...
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 ...
A real estate company owned by Warren Buffett’s Berkshire Hathaway has agreed to pay $250 million to settle lawsuits nationwide claiming that longstanding practices by real estate brokerages ...
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 ...
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 ...
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A Lexington lawyer faces prison time for defrauding his clients of $2 million by concealing information about real estate properties he was encouraging them to invest in.