Tag: realtor.com florida

How a real estate industry shake-up could affect Idaho home buyers and sellers – LocalNews8.com

IDAHO FALLS, Idaho (KIFI) – A big change could be coming to the national real estate industry potentially impacting the how homes are bought and sold.

Last year, the National Association of Realtors (NAR) reached a settlement after losing a lawsuit involving the commission structure through which buyers’ agents receive their pay.

If this new settlement is approved by a federal court, here’s how things could change for people looking to buy or sell a home in Idaho.

The NAR’s current system

Under the current system, buyer agents can search through a list of homes for sale through the NAR’s multiple listing service (MLS).

It’s an online database that shows them the seller’s information, the home price, and most controversially, how much the buyer’s agent’s commission is. According to Associate Broker Jessica Cardon of the Murdock Manwaring Company, this actually does have some benefits.

“We incentivize to say, ‘Hey, if you bring a buyer, I’m willing to share as the listing agent,'” Cardon said. “The listing agent is taking a portion of the commission that they’ve negotiated with the seller and giving it to the cooperating broker.”

Cardon tells us realtors use this method as a marketing tool towards potential

How the National Association of Realtors settlements could affect home buyers

Sacramento realtor president reacts to National Association of Realtors settlement

A LANDMARK SETTLEMENT COULD MAKE BUYING THAT FIRST HOME A LITTLE CHEAPER. THE NATIONAL ASSOCIATION OF REALTORS, SETTING A SERIES OF LAWSUITS AIMED AT ELIMINATING ITS RULES ON COMMISSIONS. AND ACCORDING TO THOSE LAWSUIT, HOMEOWNERS HAVE ARGUED THAT RULES SET BY THE ASSOCIATION FORCED THEM TO PAY WHAT THEY CALLED EXCESSIVE FEES FOR HOMES. AND JOINING US THIS MORNING IS SHERRY HOME WITH THE SACRAMENTO ASSOCIATION OF REALTORS TO TALK ABOUT THIS, BECAUSE, AGAIN, THIS IS STILL RELATIVELY FRESH. STILL VERY FLUID. BUT THIS CAN REALLY END UP BEING A JOLT TO THE INDUSTRY. ALL THE WAY ACROSS THE BOARD. OF COURSE, EVERYBODY IS REACTION TO IT IS GOING TO BE A COLLECTIVE GAS. BUT ULTIMATELY, YOU KNOW, THERE’S LET’S LOOK AT THE NUMBER OF REALTORS IN SACRAMENTO. THERE’S 8000 OF THEM. AND WE’RE DOING A VERY GOOD JOB BY AND LARGE, SELLING HOUSES. YEAH. AND THERE’S STILL SOME HOUSES TO SELL. NOT AS MUCH SUPPLY AND DEMAND ISSUES. SURE. NOT. NOT AS FAR AS THE BUSINESS MODEL ITSELF BECAUSE THIS THESE LAWSUITS REALLY STARTED TO GO AFTER, I MEAN, A NUMBER OF

Local realtors break down $418 Million National Association of Realtors settlement

EVANSVILLE, Ind. (WFIE) – A settlement announced by the National Association of Realtors to the tune of $418 million has sent waves through the real estate world.

The big storyline is if the settlement is approved by a federal court, what’s being called an industry standard 6% commission goes away.

However, speaking to some local Tri-State players, like ERA Broker Liz Miller, that 6% number isn’t necessarily as standard as it seems.

“Every buyer and seller definitely has the option to negotiate out their commission. The only thing that this settlement really does is basically give the seller and the buyer more disclosure on how that is done and when that is done,” says Miller, “so those changes are really more kind of behind-the-scenes so to speak .”

Another big talking point has been transparency.

Gretchen Muchnick, the co-owner of FC Tucker Emge, says the State of Indiana is actually ahead of the curve on the two main points brought on by the settlement thanks to some prior legislation.

“The one is that a buyer-agency agreement is in place. Governor Holcomb has already signed that into law effective July 1. So that’s not new news for us,” says Muchnick, “the