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Tag: realtor.com find a home

NAR lawsuit: After a $1.8 billion verdict, the clock is ticking on the 6% real estate commission


Washington, DC
CNN
—

Using a travel agent to buy a plane ticket or a stockbroker to trade equities seems like relics of the past. And yet, every day, people across America hire a real estate agent to help them sell a home. It’s one of the few industries that has been able to largely avoid the disruption that has helped consumers cut costs in the Internet age.

And that is largely because of the power of the National Association of Realtors, the largest professional organization in America and a significant lobbying group for the real estate industry.

But the

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Home Sellers Win $1.8 Billion After Jury Finds Conspiracy Among Realtors

A federal jury ruled on Tuesday that the powerful National Association of Realtors and several large brokerages had conspired to artificially inflate the commissions paid to real estate agents, a decision that could radically alter the home-buying process in the United States.

The realtors’ group and brokerages were ordered to pay damages of nearly $1.8 billion. The verdict allows the court to issue treble damages, which means they could swell to more than $5 billion.

It’s a decision that has the potential to rewrite the entire structure of the real estate industry in the United States, lowering the cost of

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Lawsuit against giant realtor agency may impact local homebuyers

The settlement clearly states NAR’s denial of any wrongdoing regarding the multiple listing service, or MLS module rule introduced in the 1990’s.

ALLENDALE, Mich — The National Association of Realtors (NAR) has reached an agreement to pay half a billion dollars to sellers over four years after a lawsuit alleged policies helped to set agent commissions by enforcing inflating costs from homeowners.

Geoff Brown, owner and broker of Gateway Group Real Estate, has owned his real estate agency for nearly a decade. He said with his expertise, he wanted to share with the public his side of what will impact

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Lowcountry realtors react to proposed national real estate settlement

CHARLESTON, SC (WCSC) – A proposed multi-million-dollar settlement with the National Association of Realtors is getting Lowcountry real estate agents talking about how this will impact their businesses and the home-buying process.

Some agents say it is not going to change so much for the average real estate agent and how they do business. But what will change is how the average home buyer might go about getting representation for when they want to buy a home.

This is because it might cost a buyer more in commission fees than before.

Lee Allen, managing broker at Corcoran HM Properties, says

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