You likely have met one of the rotten eggs in our industry. This type of agent probably does not do much business, and every last dollar is crucial to them. Obviously, this type of Realtor is not ethical and certainly not someone you want in your corner. Buyer’s Agents Should Never Gi...
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The commission structure can be complex and has attracted scrutiny in recent years. In 2020, the Justice Department filed an antitrust lawsuit against the National Association of Realtors (NAR), alleging that the lack of transparency in the commission system and limited price competition was harmful...
But as of August 2024, a court settlement by the National Association of Realtors (NAR) shifted this expectation. Under the new rules, buyers are now responsible for paying their own real estate agent's fees, but sellers can still choose to pay the buyer agent's commission. Rel...
Here are some common closing costs for sellers in Oklahoma: Realtor commissions: Traditionally, commission fees for both real estate agents in a transaction have been paid by the seller. While buyers might now pay their own agents directly, depending on the details of your deal, sellers should ...
Additionally, some companies charge by the day, while others may charge based on mileage. Make sure to check the terms of your rental agreement and consider how far you’re moving. If you’re moving locally, a smaller truck that requires more trips could still be the cheaper option. ...
broker's state exam on real estate must be passed. Upon obtaining a broker's license, a real estate agent may continue to work for another broker as before, become a real estate office branch manager, or become in charge of his/her own brokerage and hire other salesperson (or broker) ...
Transaction costs can change because of shifting industry norms, but in some cases, they are impacted by government or judicial action. For example, a 2024 settlement in a lawsuit against the National Association of Realtors (NAR) proposed eliminating the standard 6% commission rate that was split...
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 ...