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As leader of the Metropolitan Housing and Planning Council from 1959 to 1963, he advocated for laws ending racial discrimination in home sales. When the Chicago Real Estate Board disagreed - an organization which his great-grandfather helped create - he resigned in protest. [13] Baird's fight for fair housing eventually led to these laws being ...
Real estate agents are raising concerns about a resurgence of squatters and scammers in the Chicago area, exemplified by an incident in Longwood Manor.
Blockbusting was a business practice in the United States in which real estate agents and building developers convinced residents in a particular area to sell their property at below-market prices. This was achieved by fearmongering the homeowners, telling them that racial minorities would soon be moving into their neighborhoods.
Compass, Inc. operates a residential real estate brokerage in the United States. [4] [5] It has approximately 29,000 agents, who are generally independent contractors, on its platform. [2] In 2023, the company completed 178,848 transactions for a gross dollar value of $186.1 billion. It had a market share in the U.S. of 4.5%. [2]
Historically, a seller’s agent charged homesellers a fee, often 5% or 6% of a home’s purchase price, that was intended to be shared with the buyer’s agent.
The typical commission on a real estate transaction totals somewhere between 5 and 6 percent of the home’s sale price, split evenly between the listing agent and buyer’s agent.
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