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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]
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 ...
Groups of home sellers brought lawsuits against the NAR for its standard commission structure, saying it was a violation of antitrust laws. Under the terms of settlement, which was announced in ...
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 ...
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.
While the DOJ and FTC monitor and challenge real estate laws or changes to law perceived as anti-competitive in all States, this Press Release from April 2005 is an example of their effort: "The Department of Justice and the Federal Trade Commission (FTC) issued a joint letter urging the state-created Texas Real Estate Commission to reject a ...
The Uniform Residential Landlord and Tenant Act, also known as URLTA, is a sample law governing residential landlord and tenant interactions, created in 1972 by the National Conference of Commissioners on Uniform State Laws in the United States.
Keller Williams, RE/MAX, and Realogy got final court approval for three settlements amounting to $208 million that promise dramatic changes to real estate commissions across the US.