Some attorneys are experts on the federal, state and local laws, statutes and regulations that apply to the exchange and usage of "real estate," a legal term for undeveloped or developed land and any buildings and resources that exist on that land. What Real Estate Law Is and What...
The changes are part of a $418 million settlement from the National Association of Realtors. The standard 5 or 6% commission was the focus of that settlement deal after a series of lawsuits alleged the standard practice violated anti-trust laws. RELATED ...
Similarly, in the real estate sector, most of the states do not allow paying a finder's fee to a non-licensed realtor. Regulatory Compliance and Ethical Considerations Compliance with federal and state laws is essential for brokerage agreements. Ethical considerations, such as avoiding conflicts of...
Know the New Jersey laws Overall, Lento said "an ounce of prevention," in essence knowing the facts, is key, though he admits that may be easier said than done. "Having knowledge and information in advance of taking action or doing things in an intimate relationship is going to put a pe...
Professional negligence occurs when a professional (lawyer, insurance broker, accountant, architect, realtor, financial advisor, etc.) fails to fulfill their professional duties or obligations that they were hired by their clients to fulfill. Understanding the key elements of professional negligence — ...
The trustee plays a crucial role in the management and distribution of a trust. Find out what the trustee's responsibilities are and how to choose one.
This category includes office spaces, retail stores, industrial warehouses, and land for new projects. These agents analyze commercial real estate market trends and understand zoning laws.They also look at how profitable commercial properties can be. Clients need to know the difference between ...
Home value estimates can also be found online for free with tools like Zillow's Zestimate, realtor.com's RealValue tool, U.S. News' Home Value Estimator or the Federal Housing Finance Agency's House Price Calculator, but these are unlikely to be as accurate as an appraiser....
Who Pays a Realtor's Commission at Closing? Real estate commissions represent one of the highest costs at a typical closing. Buyers don’t pay this fee, sellers do. Historically, the commission has been 5% to 6% of the home’s purchase price, split evenly between the seller's agent and ...
Many people use the terms, realtor, real estate agent, and broker interchangeably, but the terms differ. Agents and brokers hold different licenses, and only brokers can work independently. Agents and brokers can use the title Realtor only if they are members of theNational Association of Realto...