Madeline Beaumont

Mar 19, 2024 | bollyinside.com | Madeline Beaumont

Realtor settlement could shake up real estate marketA new realtor settlement could lead to a significant decrease in commission fees, potentially saving buyers and sellers thousands of dollars. The National Association of Realtors was accused of conspiring to keep broker fees artificially high, prompting this change. The new rules, if approved, are expected to start in the middle of summer.

Mar 18, 2024 | bollyinside.com | Madeline Beaumont

Landmark Settlement Breaks Up the Real Estate CartelThe National Association of Realtors (NAR) has agreed to end the age-old practice of 6 percent agent commissions for residential home sales. The settlement could drop U.S. commission costs by as much as 30 percent, potentially saving homeowners thousands of dollars. The end of the 6 percent commission is attributed to a private antitrust case brought by a group of Missouri homeowners.

Mar 18, 2024 | bollyinside.com | Madeline Beaumont

Video marketing platform Roomvu launches in the U.S.Roomvu partners with Leading Real Estate Companies of the World and Realty One for its expansion into the U.S. market. Backed by venture fund Second Century Ventures, Roomvu is recognized as one of Canada’s most innovative tech companies. Roomvu’s application offers a library of video content covering real estate topics to help agents generate leads.

Mar 18, 2024 | bollyinside.com | Madeline Beaumont

The way Americans buy and sell homes is set to undergo a major transformation, with significant changes expected to shake up the housing market. 6% commissions on home sales will no longer be the norm, leading to potentially lower costs for buyers. Real estate commissions are anticipated to fall by 25% to 50% due to increased competition among brokers. Buyers may have to pay their own agents directly, shifting the traditional payment structure.

Mar 18, 2024 | bollyinside.com | Madeline Beaumont

A lawsuit settlement could potentially lower home prices as sellers will no longer have to pay the buyer’s agent, resulting in lower fees for home sellers and the possibility of reduced home prices due to commissions being baked into the price. Home sellers will no longer have to pay the buyer’s agent, reducing fees. Lower fees could lead to a decrease in home prices. Americans pay about $100 billion in commissions each year, one of the highest totals globally.