Other fees: Sellers also pay some of the same fees buyers do, such as an attorney’s fee and prorated property taxes. Who pays Realtor commissions? Due to the National Association of Realtors (NAR) lawsuit settlement earlier this year, as of August 17, 2024, sellers might not be responsi...
» MORE: What home sellers should know about the NAR settlement How to list a home on the MLS If you're working with a listing agent to sell your home, the agent will list the property on the multiple listing services that cover your area. If you're going the for-sale-by-owner, ...
What the lawsuits are about The settlement stems from a federal class-action antitrust lawsuit, Burnett v. National Association of Realtors et al., filed in Kansas City, Missouri. Last October, a jury sided with the plaintiffs, agreeing that NAR and large brokerages conspired to i...
"Commissions remain negotiable, as they have been," the organization wrote. However, some of these changes may take time to materialize, experts say. Settlement process 'can take some time' If a settlement agreement is accepted within a lawsuit between two people, the court generally won't loo...
The commission borne by home sellers was then divided between agents for the seller and buyer. While on paper subject to negotiation, the fee was the focal point of thelawsuit lost by the NARand brought by a group of home sellers, who claimed the trade group and others colluded in driving...
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CBS News confirmed that the five people aboard the submersible wereHamish Harding, a 59-year-old British billionaire, business owner and explorer; British-Pakistani businessman Shahzada Dawood and his son, Suleman; French explorer Paul-Henri Nargeolet, who had made multiple dives over the year...
In March, the National Association of Realtorsagreedto a $418 million settlement in an antitrust lawsuit where a federal jury found the organization and several large real-estate brokerages had conspired to artificially inflate agent commissions on the sale and purchase of real estate. ...
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...
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...