Federal jury in Kansas City, Missouri found that the National Association of Realtors and two big residential real estate companies engaged in a conspiracy to inflate commissions.
Subscribe to Fox Business! https://bit.ly/2D9Cdse
Watch more Fox Business Video: https://video.foxbusiness.com
Watch Fox Business Network Live: http://www.foxnewsgo.com/
FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capital of the world — FBN launched in October 2007 and is one of the leading business networks on television, having topped CNBC in Business Day viewers for the second consecutive year in 2018. The network is available in nearly 80 million homes in all markets across the United States. Owned by FOX Corporation, FBN is a unit of FOX News Media and has bureaus in Chicago, Los Angeles, and Washington, D.C.
Follow Fox Business on Facebook: https://www.facebook.com/FoxBusiness
Follow Fox Business on Twitter: https://twitter.com/foxbusiness
Follow Fox Business on Instagram: https://www.instagram.com/foxbusiness/
source
Should challenge that these tinder boxes are at least 3 times overvalued. Literally too expensive for average Americans to afford anymore.
I am a realtor in kentucky. Our brokerage charges a 6% listing fee of which I get 3% and the buyer's agent gets 3%. I hardly see how that is inflated by any stretch of the imagination. Meanwhile lawyers and heart surgeons charged exorbitant fees but nobody's going after them… If you want to sell your house on your own fine, but there are plenty of ways to screw up a real estate deal that most people don't even understand or would think about.
Trump is next and bigger coz his fraud according to court, is persistent.
White House/Government is setting the example. CORRUPT
As long as they're making $5 billion a year, a $1billion fine will not stop them, same with big Pharma
Thank you PRESIDENT TRUMP,,for cleaning house in Realtors corrupting practices❤
Need more info to understand what the issue is as commissions are negotiable so unless they charged more then negotiated than i dont see the issue . If there is no buyers agent the listing agent keeps the entire commision ultimately costing the seller the same either way….
Buyer Agency or buyer brokerage is very confusing and was only a matter of time.
I just love geri Willis
Someone tell me 1 thing that is not fraud and deceit in this country.
Realtors are a different breed
That’s why Florida made it a mandate back in the early 2000s that if somebody purchased a house they had to keep it for 18 months. Back then the real estate companies would multiply sell the same house so they can make 3 to 6% on every sale of the house so they had at times anywhere from 10 to 15 different purchasers of the same house at closing.
Real estate agents are such Taki scamming people they’re worse than used car sales people
Money makes people cheat
I’m sure the Clinton’s and BIDENS were getting checks from that somehow too. Just like the checks in Ukraine… always greedy and stealing OUR MONEY!
“This money will be returned to these homeowners…” yeah, after the attorneys take their 50%!
Who’s the most shameful here?🤪
Unfortunately, it's almost all of them… what do the rest of us get?
Is anybody honest in this country…
They should go to jail for this.
When we listed our home for sale we chose to use a realtor with a flat fee based on the asking price. House is advertised on MLS . House is shown by our realtor few times by her during the first 3 weeks in market. Offer comes and I see a buyers realtor commission and I refuse to give the buyers realtor a commission because to me, I'm paying my realtor already, why would I pay commission to buyers realtor when I did not request or recieve any service from the buyers realtor. $8,000 was the amount that was trying to be extorted (my opinion) to the buyers agent. Furious doesn't fully describe my feelings. I was TOLD that "oh yes. I had to pay buyers agent $8k and my agent $4k. I will never use a realtor again, ever.