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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 ...
Many in the real estate industry worry that first-time homebuyers — those who need expert guidance the most, and who are already severely hampered by high prices and high mortgage rates — will ...
Hire a discount agent: A low-commission real estate agent will likely charge much less than a traditional agent would — usually 1 to 1.5 percent of your home’s sale price. (However, you might ...
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 ...
A real estate trend is any consistent pattern or change in the general direction of the real estate industry which, over the course of time, causes a statistically noticeable change. This phenomenon can be a result of the economy, a change in mortgage rates, consumer speculations, or other fundamental and non-fundamental reasons.
A real estate license is an authorization issued by a government body to give agents and brokers the legal authority to represent a home seller or buyer in a real estate transaction. Real estate agents and real estate brokers are required to be licensed when conducting real estate transactions in the United States and in a small number of other ...
In central Ohio, the commission is often 3% of the sales price to each. A seller, for example, would pay a total of $18,000 ($9,000 to agents on each side) on the sale of a $300,000 home.
Additions, deletions, and changes to the ILCS are done through the Illinois Legislative Reference Bureau (LRB), which files the changes as provided for by Public Act 87-1005. [3] The compilation is an official compilation by the state and is entirely in the public domain for purposes of federal copyright law; anyone may publish the statutes. [3]