A federal jury in Kansas City sided against the National Association of Realtors and two brokerage firms, agreeing with the plaintiffs who said forcing home sellers to pay the commission for the buyer’s broker is “an anticompetitive restraint” and requires those sellers to “pay an inflated amount.” NBC News’ Christine Romans reports.
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#Realtor #RealEstate #Selling
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6%!!! WHAAAAAT?! We pay 2% to agent in Russia and think that it's too much, but 6% is a robbery!!!!
You sign a contract. Case will be overturned on appeal.
This will absolutely dismantle the real estate system, because unless you are the listing agent you make a no Dinero
Never TRUST anyone that turns off COMMENTS. 😊
At :10… missouri 2 digit abbreviations is MO. Not MS. We're doomed.
Nice…
Lol I see a marker crush if this is implemented.
Hooray! Christine Roman is back on TV!!
Just another way for the rich to stay rich
As a Real Estate Agent let's clarify somethings because this may not be the case in across the country. I'm not familiar with Kansas City but since I'm an Agent in Las Vegas, NV, here's the process here: Seller's agent represent the seller. They agree to a commission if the agent sells their home. As a seller's agent their job is to market their home. To get the home sold they may need to entice other agents by offering a co-op fee if they can bring them a buyer who buys the home. So the seller's broker pays the buyer's broker and the brokers pays their agents. Now, prior to making an offer, buyers agents negotiate terms with the buyer. In the contract it does state a commission fee that the buyer may end up paying if there's no co-op fee by the seller's agents. So technically, the seller's agent is giving up their portion of commission in co-op fee to the buyer's agent who brings them a buyer that buys the home.
Reminds me of the South Park episode about Realtors.
What about Texas
only a billion? didn't we send 70 billion to the ukraine…? Homelessness is 100% intended on our streets.
this needs to be fixed
I am in CA. The listing contract says that seller pays the listing agent either a set amount or a percentage of the sales price. It discloses that the 'listing agent' will pay the buyer's agent out of their own commission. The seller is paying the listing agent not the buyer's agent. This is very misleading.
The commission the seller pays to the buyer’s agent is for the buyer’s agent bringing a buyer. No buyer, that seller’s house will sit forever. So the idea that the seller isn’t getting anything for the commission paid to the buyer’s agent is ridiculous,
Everything is a scam! It's all based on the greater fool theory!
I've been savagely ripped off by real estate agent in several back to back home sales. I never thought another industry could make car dealers look good by comparison. I'm going to remodel my current home rather than sell my home and buy another because of the transactional losses to the real estate agents.
Who cares about this when corporations are still buying up property and then not selling to force prices up??
These real estate agents get WAYYYYY TO MUCH