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How real estate commissions used to work Traditionally, when a home seller hired a real estate agent to represent their listing, the seller agreed to pay a commission.
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 ...
Realtors across the country are bracing for a seismic shift in the way they do business. Starting August 17, new rules will roll out that overhaul the way Realtors get paid to help people buy and ...
The researchers found that a commission cap would help reduce prices for homebuyers and sellers, but at the same time, a commission floor would be needed to support low-value housing sales.
On March 15, 2024, the National Association of Realtors announced that it would settle the lawsuit rather than appeal. The group agreed to change how commissions are paid and to pay back $418 million over four years. [16] The judge presiding over the case granted preliminary approval to the settlement on April 23, 2024. [17]
Technically, real estate commissions have always been negotiable. Practically, though, agents are more skilled at negotiating than their clients, and commissions have clustered in the range of 5 ...
After the National Association of Realtors settlement, new rules around real estate fees are taking effect that boost buyers' and sellers' negotiating power. Home sale commissions are getting a ...
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 ...