Mary Cummins, Real Estate Appraiser, Animal Advocates, Los Angeles, California

Mary Cummins, Real Estate Appraiser, Animal Advocates, Los Angeles, California
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Showing posts with label real estate commission. Show all posts
Showing posts with label real estate commission. Show all posts

Friday, February 16, 2024

The End of Buyer's Broker's Real Estate Commissions in Multiple Listing Services? by Mary Cummins Real Estate Appraiser


The 2020 Nosalek lawsuit filed in U.S. District Court in Boston alleged that MLS PIN, Keller Williams, RE/MAX, Anywhere, and HomeServices of America colluded to inflate real estate agent commissions. The suit claimed that the defendants agreed to rule changes including allowing compensation offers of $0 to buyer agents and proactively informing consumers that commissions are negotiable. 

The Department of Justice is examining whether the commissions system violates antitrust law. Today the DOJ stated sellers shouldn't offer any commission to buyer's brokers in the MLS. This will allegedly bring down the price of real estate commissions.

I personally feel buyer's agents will just include a 2.5% commission in the offers. It will be paid by proceeds of sale. Buyer, seller still paying a commission fee one way or another. Homes will be listed for the same prices. Commissions have always been negotiable. Appraisers have to read sales contracts for purchase appraisals. We see the negotiations all the time. I doubt things will change much unless flat fee buyers agents start popping up like flat fee selling agents who only list the property on the MLS. 

#realestatecommission #marycummins #realestateappraiser #realestatesales #realestateappraisal #realestate 

https://www.reuters.com/legal/government/justice-department-says-settlement-too-lax-real-estate-commission-case-2024-02-16/


Mary Cummins of Cummins Real Estate is a certified residential licensed appraiser in Los Angeles, California. Mary Cummins is licensed by the California Bureau of Real Estate appraisers and has over 35 years of experience.


Mary Cummins, Mary K. Cummins, Mary Katherine Cummins, Mary, Cummins, #marycummins #animaladvocates #losangeles #california #wildlife #wildliferehabilitation #wildliferehabilitator #realestate #realestateappraiser #realestateappraisal #lawsuit real estate, appraiser, appraisal, instructor, teacher, Los Angeles, Santa Monica, Beverly Hills, Pasadena, Brentwood, Bel Air, California, licensed, permitted, certified, single family, condo, condominium, pud, hud, fannie mae, freddie mac, fha, uspap, certified, residential, certified resident, apartment building, multi-family, commercial, industrial, expert witness, civil, criminal, orea, dre, brea insurance, bonded, experienced, bilingual, spanish, english, form, 1004, 2055, 1073, land, raw, acreage, vacant, insurance, cost, income approach, market analysis, comparative, theory, appraisal theory, cost approach, sales, matched pairs, plot, plat, map, diagram, photo, photographs, photography, rear, front, street, subject, comparable, sold, listed, active, pending, expired, cancelled, listing, mls, multiple listing service, claw, themls, historical appraisal, facebook, linkedin

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