A Serious Settlement May Spell An End To 6% Real Estate Commissions : Npr
A generation ago, the buyer’s agent had all the data — comparable neighborhood gross sales prices, tax histories, faculty district placement and particulars of the home — and was imagined to act as a comprehensive counselor. The case hinged on the commissions, normally of 6%, that sellers pay their brokers, who then cut up them with the buyers’ agents. It has been a cornerstone of how the NAR — a powerful commerce group of 1.5 million members — does enterprise. But after just hours of deliberation, a jury found that this standard business apply quantities to collusion to inflate real estate charges.
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