Granville
REAL ESTATE
National Association of Realtors settles major lawsuit over real estate agent compensation
The National Association of Realtors recently agreed to settle a big lawsuit that questioned how real estate agents are paid — and who foots the bill.The big picture: If approved, come summer, agents won't be able to make offers of compensation in the Multiple Listing Service, the database where real estate agents post homes for sale.Why it matters: The seemingly small change is causing major confusion.How it works (currently): Sellers and their broker negotiate a fee, and that broker decides how much profit they want to share with the buyers' agent.That number is advertised in the MLS listing, and the...
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