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The 6% commission on buying or selling a home is gone after Realtors association agrees to seismic settlement


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2024 Mar 16, 3:11pm   177 views  3 comments

by Patrick   ➕follow (55)   💰tip   ignore  

https://www.cnn.com/2024/03/15/economy/nar-realtor-commissions-settlement?cid=external-feeds_iluminar_yahoo


The 6% commission, a standard in home purchase transactions, is no more.

In a sweeping move expected to dramatically reduce the cost of buying and selling a home, the National Association of Realtors announced Friday a settlement with groups of homesellers, agreeing to end landmark antitrust lawsuits by paying $418 million in damages and eliminating rules on commissions.


They actually should have to pay trillions in damages for their century of cartel behavior.

Comments 1 - 3 of 3        Search these comments

1   GNL   2024 Mar 16, 3:41pm  

The fact that the NAR has dominated all competition screams monopoly or even RICO?
2   Swfl   2024 Mar 16, 5:49pm  

I feel like as a potential buyer, I’m doing most of the work by researching Zillow and going to open houses.
3   beershrine   2024 Mar 16, 7:03pm  

Swfl says

I feel like as a potential buyer, I’m doing most of the work by researching Zillow and going to open houses.


Your doing all the work as everything is online these "agents" just want a cut in on your purchase or sale. There are 10x more realtors than actually needed.
The industry needs a fall out but they are the #1 lobby in DC


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