Tag

Commission Rates

All articles tagged with #commission rates

real-estate1 year ago•6 min saved

"Major Realtor Settlement: Impact on Homebuyers and Industry Practices"

Home sellers who sold a home in the last four years are entitled to a portion of the $418 million Realtor settlement fund, with individual payouts estimated to be as low as $13 after deducting attorneys' fees. The settlement also includes revisions to commission rules, requiring written agreements between Realtors and buyers, potentially impacting how buyer agents get paid. While some anticipate a significant drop in commission rates, others believe the settlement may not lead to substantial changes in industry practices.

via OCRegister|

#buyer-agents #commission-rates #home-sellers

real-estate1 year ago•2 min saved

"Real Estate Industry Faces Major Disruption in CNY as Sellers Push Back Against Commissions"

The National Association of Realtors has settled a $418 million lawsuit, leading to changes in commission policies for real estate transactions, giving homebuyers more power to negotiate costs. Buyers and sellers will now have to enter into a contract with their realtor and negotiate commission rates before viewing a home, with the option to decide who pays the fee. Despite these changes, the housing inventory remains low in Central New York, prompting efforts to address the city's housing challenges and create more affordable housing options.

via CNYcentral.com|

#commission-rates #housing-inventory #lawsuit-settlement

real-estate1 year ago•1 min saved

"Realtor Commission Changes: Impact on Homebuyers and Industry Concerns"

A Des Moines real estate expert weighs in on the potential impacts of a national class-action settlement that could change how homes are bought and sold, cautioning that paying a full-price commission to a more experienced agent might be the best bet for investment. The settlement, which ends the practice of charging buyers and sellers a combined sales commission of roughly 6 percent, could impact who ends up paying it, potentially leaving first-time homebuyers and Veterans struggling to cover thousands of dollars for their agent's fee.

via WHO TV 13 Des Moines News & Weather|

#commission-rates #des-moines #homebuyers

real-estate1 year ago•4 min saved

"Seismic Settlement: Impact on Homebuyers and Realtors in Southern California"

A proposed $418 million settlement of a massive antitrust case against Realtors is set to change the home selling process and how buyers and sellers compensate their agents in Southern California, leading to confusion and relief in the real estate industry. The impact of the deal remains unclear, with questions arising about potential changes in agent compensation, buyer-broker agreements, and the possibility of smaller commissions and lower home prices. The settlement, if approved, could lead to significant shifts in the industry, including the widespread use of buyer-broker agreements and potential changes in commission rates and agent earnings.

via OCRegister|

#antitrust-case #commission-rates #real-estate

real-estate2 years ago•5 min saved

Real Estate Commission Rates at Risk: Impending Changes After Landmark Lawsuit

The National Association of Realtors (NAR) in the US has been found guilty of conspiring to keep commissions for home sales high, potentially leading to a reduction in realtors' commissions by up to 30%. This could have significant implications for the NAR's 1.6 million members, with estimates suggesting that as many as 80% could lose their jobs. The ruling comes after a jury in Missouri awarded home sellers $1.78 billion in damages, and similar class-action lawsuits are set to be heard in Illinois and South Carolina. The current average commission charged by US agents is between 5 and 6 percent, more than double the average fees charged in the UK. The NAR plans to appeal the verdict.

via Daily Mail|

#commission-rates #lawsuit #national-association-of-realtors

real-estate2 years ago•6 min saved

The Impact of a Landmark Court Loss on Real Estate Commissions

A recent jury verdict against the National Association of Realtors (NAR) and large residential brokerages could lead to significant changes in the residential real estate industry. The lawsuit challenges high commission rates, overpayment of buyer brokers, and fixed pricing. While NAR is appealing the $1.8 billion jury verdict, the potential for policy changes that could impact realtors' earnings is significant. The verdict comes at a time when real estate agents are already facing challenges due to rising interest rates and an affordability crisis in the housing market. The lawsuits may result in lower fees, increased transparency, and changes in buyer representation. Local market rules may also be affected. Real estate professionals are advised to stay informed and be prepared for potential changes in the industry.

via CNBC|

#commission-rates #lawsuit #policy-changes

business2 years ago•2 min saved

Real Estate Stocks Plummet as Lawsuit Verdict Shakes Market

Shares of real-estate companies, including Zillow, Redfin, and Opendoor, plummeted after a Missouri jury ruled that the National Association of Realtors, HomeServices of America, and Keller Williams colluded to inflate commission rates. The ruling could lead to an injunction preventing commission sharing on multiple listing services (MLSs), which would impact the buyer-agent business. Analysts believe the ruling could bring significant changes to the Participation Rule, potentially banning or making it optional for seller agents to disclose compensation to buyer agents. This could shift the burden of payment to buyers and reduce their use of agents. Zillow, heavily reliant on its Premier Agent business, could face headwinds to revenue if buyer agent usage declines. Redfin CEO Glenn Kelman sees the ruling as an opportunity for the industry to have more transparent conversations about fees.

via MarketWatch|

#business #buyer-agents #commission-rates

business2 years ago•3 min saved

"Missouri Jury Delivers Verdict on Real Estate Commission Conspiracy Case"

A jury in Kansas City has found the National Association of Realtors (NAR), HomeServices of America, and Keller Williams guilty of colluding to inflate or maintain high commission rates through NAR's Clear Cooperation Rule. The defendants have been ordered to pay damages of $1.78 billion, with potential treble damages of roughly $5.36 billion. The verdict opens the door to more potential lawsuits in other states. The judge overseeing the case has the power to issue injunctive relief, which could include banning the cooperative compensation rule nationally. The NAR plans to appeal the verdict and reduce damages, while Keller Williams and HomeServices also intend to appeal.

via HousingWire|

#antitrust-lawsuit #business #commission-rates