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On Aug. 17, the rules governing real estate agent commissions are changing. Some experts say the shift should eventually reduce costs for consumers. Real estate agent commission rules change Saturday.
A real estate broker typically receives a real estate commission for successfully completing a sale. Across the U.S, this commission can generally range between 5-6% of the property's sale price for a full-service broker but this percentage varies by state and even region. [2]
The verdict in the NAR lawsuit has made it likely the real estate industry won’t be able to charge 5%-6% commission rates across the board, writes Stephen Brobeck.
A commission structure can apply to employees or independent contractors. Industries where commissions are common include car sales, property sales, insurance booking, and most sales jobs. In the United States, a real estate broker who successfully sells a property might collect a commission of 6% of the sale price. [7]
On April 23, a judge granted preliminary approval to a $418 million antitrust settlement with the National Association of Realtors that ends customary real estate broker commissions of up to 6% of ...
The residential real estate industry in Texas is unique in that the real estate sales contract forms used in most transactions in the state are developed through a state agency, the Texas Real Estate Commission (TREC). TREC's Broker-Lawyer Committee develops standard contract forms and addenda which are promulgated by the Commission.
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