National Association Realtors settles commission lawsuits, agrees to pay $418 million
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- Опубликовано: 14 мар 2024
- Real estate stocks are under pressure Friday after the National Association of Realtors (NAR) reached a settlement agreement to resolve various lawsuits related to commission practices. The association has agreed to pay a staggering $418 million as a result.
Yahoo Finance reporter Dani Romero outlines new real estate guidelines that are in place thanks to the lawsuits and dives into post-settlement implications for homebuyers and sellers.
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Lawyers get paid in a shakedown of the realtor industry…
1.2 million members that pay yearly $800. Per agent . Where is the money?
Brokers were told the did not appeal because it would bankrupt the NAR.
I am calling for the closure of the NAR . Please share with all your fellow members
NAR never mandated a set rate and in fact has provided training and guidelines discouraging the practice of agents coercing certain commission rates. While it's been an industry norm, charging a "standard" rate has explicitly been frowned upon.
I feel like all of this is initiated by greed, yes by NAR but also by sellers. The problem is, buyers could be at a disadvantage if representing themselves without agent expertise just to get the house for a lower price.
Without adequate buyer's agent guidance, buyers risk taking on expensive hidden issues or buying into hazardous situations.
I also feel like the true victims in all of this are the newly licensed agents. The single moms who are trying to provide for their children but can’t because of the multiple arbitrary membership fees in order to work.
The only thing this going to cause more lawsuits between buyers and sellers.
Lol
And nobody is talking about it. My cousin works in real estate and knows of a lot of hush money to keep this from spreading on mainstream news.
Dani was today years old when she learned about real estate. Change my mind. "The bills can be a monthly bill, or 1 flat fee." LMFAO wtf is she attempting to describe?
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This is long overdue. Most real estate "professionals" are WAY overpaid. They do little or nothing to truly add value to a transaction. Most agents are "paint by numbers" drones whose real job is to open a front door, let the prospective buyer look around, then lock the door. For that, the brokerage gets paid outrageously well. It's always puzzled me why Google doesn't get into the real estate marketing business. Google could totally overhaul the entire real estate market for the better.
Spoken like someone who hasn’t got much understanding of the leg work a lot of the good real estate agents do to serve their clients in the process of buying their home.
Next time you visit your doctor or lawyer, ask them to work for free. FYI zillow and all of the real estate platforms on the internet come from us brokers. As brokers we can shut down zillow tomorrow if we choose
Funny how people keep comparing doctors lawyers to real estate agents