The rules, the result of a lawsuit by a group of home sellers, could ultimately result in more competition and a reduction in the 5% to 6% commission that seller's agents typically charge. The new rule could have unintended consequences, including making it harder for first-time homebuyers to...
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The NAR lawsuit In October 2023,a federal jury foundthat the National Association of Realtors (NAR), along with several large brokerages, conspired to inflate Realtors’ commissions. All of the brokerages settled out of court, and as of March 15, 2024, NAR did the same. ...
Learn more about how the lawsuit impacts buyers and sellers.Will the NAR settlement change how real estate commission works? Buyers may feel the most immediate impact from the NAR settlement changes. If the seller doesn't offer to pay for the buyer's agent at closing, the buyer could be on...
On March 15, 2024, the National Association of Realtors settled a class action lawsuit by homeowners who alleged that the NAR had illegally inflated the commissions charged to realtors. As part of the $418 million settlement, the NAR agreed to stop allowing broker compensation offers on its li...
The rich get richer? How NAR’s deal is widening the commissiongap byDaniel HoustonDec 23 Majority of real estate pros support Clear Cooperation, Intel Indexfinds byDaniel HoustonDec 16 Agents see green shoots around the corner: Client PipelineTracker ...
Buyer's agent compensation: Because of a settlement of a lawsuit against the National Association of Realtors, sellers aren't required to cover a buyer's agent commission. However, buyers may expect a concession of 2–3% to help them cover the cost of their real estate agent. Repair credits...
Regulators with the Federal Trade Commission on Monday accused the iBuyer of ‘cheating’ and ‘tricking’ consumers. Opendoor disagrees with the allegations but has agreed to... Realtors Selling Own Property Still Bound to Follow Code? by Cecilia EchezabalAugust 1, 202200 Dear Shannon: If a ...