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Anywhere Real Estate, Inc. RE/MAX, LLC; Jurors found that all the defendants in the case "knowingly and voluntarily" engaged in a conspiracy with the goal of "raising, inflating, or stabilizing broker commission rates paid by home sellers" by following and enforcing NAR's cooperative compensation rule.
A real estate license must be obtained from the DRE in order to engage in the real estate business and to act in the capacity of a real estate broker or salesperson within the State of California. Before applying for a license, all education and experience requirements mandated by the Department must be fulfilled. [ 5 ]
Real estate brokers who work with lenders can not receive any compensation from the lender for referring a residential client to a specific lender. To do so would be a violation of a United States federal law known as the Real Estate Settlement Procedures Act (RESPA). RESPA ensures that buyers and sellers are given adequate notice of the Real ...
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 brokerages may get a cut of the commission as well. The brokerage RE/MAX, for example, has a split commission setup by which its agents receive 95 percent of the full commission from ...
Changes may soon be on the horizon for real estate commission rates after a Kansas City jury determined – in a $1.8 billion judgement in October – that commissions had been inflated and that ...
The California Consumers Legal Remedies Act ("CLRA") is the name for California Civil Code §§ 1750 et seq. [1] The CLRA declares unlawful several "methods of competition and unfair or deceptive acts or practices undertaken by any person in a transaction intended to result or which results in the sale or lease of goods or services to any consumer". [2]
Real estate commission rates used to typically total around 6 percent of a home's sale price, but in recent years, that amount has been closer to 5 percent. Due to a recent lawsuit, sellers will ...