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The $418 million deal announced last Friday would resolve litigation brought by home sellers accusing the trade group of setting unlawful agent commissions and indirectly inflating home prices.
A landmark agreement would eliminate real estate brokers' automatic commissions of up to 6%, potentially saving home buyers and sellers thousands of dollars.
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]
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 ...
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.
The four unities is a concept in the common law of real property that describes conditions that must exist in order to create certain kinds of property interests. . Specifically, these four unities must be met for two or more people to own property as joint tenants with legal right of survivorship, or for a married couple to own property as tenants by
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 ...