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#15 - National Media is pushing false narratives on the recent $418 million NAR settlement
Manage episode 410195477 series 3540956
Kandungan disediakan oleh Sean Reynolds. Semua kandungan podcast termasuk episod, grafik dan perihalan podcast dimuat naik dan disediakan terus oleh Sean Reynolds atau rakan kongsi platform podcast mereka. Jika anda percaya seseorang menggunakan karya berhak cipta anda tanpa kebenaran anda, anda boleh mengikuti proses yang digariskan di sini https://ms.player.fm/legal.
Sold a home in the last four years?
Congratulations. You’re entitled to a piece of the $418 million Realtor settlement fund.
But don’t expect a big windfall.
Since you will be among 21 million other Americans who are part of the “settlement class,” the amount per seller — after deducting attorneys’ fees — could be as low as $13.
That’s a pittance compared with the $18,000-$22,000 commission Southern California sellers typically pay buyers’ agents — on top of what they paid their own agents.
“It’s not going to be a lot of money,” said Jack Miller, president and chief executive of Orange County-based consulting firm T3 Sixty. “It’s not really a financial thing. The rules changes are the bigger deal here.”
The size of the seller payout is one of four key takeaways from the 107-page settlement reached this month between plaintiffs in more than 20 class-action lawsuits and the National Association of Realtors.
Homeowners and their attorneys argued in federal lawsuits across the nation that the decades-old practice of requiring sellers to post compensation offers for buyer agents amounted to price-fixing, keeping the 5-6% commission rate artificially high.
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