Lawsuits challenging real estate commission could shake up housing market

Lawsuits challenging real estate commission could shake up housing market

[ad_1]

Paul Solman:

The 3 percent the seller’s agent gave the buyer’s agent as a cooperation fee.

So, in addition to through-the-roof mortgage rates these days, a now higher-than-ever median American home price of $430,000, about $26,000 of which is realtor commissions, $13,000 for each agent, regardless of effort, making homes that much more expensive than even their market price, and thus the complaint, industry-wide commission fixing, as the video clips so blatantly suggested, agents colluding with the national association which owns the word realtor.

To call yourself one, you must be a dues-paying member. The trade group’s response?

Kipp Cooper, CEO, Kansas City Regional Association of Realtors: Commissions have always been completely negotiable, will always be completely negotiable. And those are set up front with the listing agent and the seller much ahead of time.

[ad_2]

Source link