DIRS.INFO The most relevant business & tech news

☆ Consumer advocates — and even some Realtors — hail NAR settlement: 'We've opened up the entire industry to competition'
▼ + stars: | 2024-03-24 | by ( Rob Wile | ) www.cnbc.com time to read: +6 min

Now, a landmark settlement with the National Association of Realtors is poised to upend this model. According to consumer advocates, and even some Realtors, it's a win for homebuyers and sellers. And in the months following Covid-19 pandemic reopenings, the hottest U.S. real estate markets were tipped squarely in favor of sellers. It's the same amount of money, but now the buyer gets money instead of a buyer agent, and they can decide what to do with it." What's more, greater competition for clients is likely to result in lower costs across the board, said Ryan Tomasello, a real estate industry analyst with the Keefe, Bruyette & Woods financial firm.

Persons: it's, Mariya Letdin, Letdin, they'll, Doug Miller, Miller, Ryan Tomasello, Keefe, Tomasello, Phil Crescenzo Jr, Crescenzo Organizations: National Association of Realtors, Realtors, homebuyers, Florida State University's College of Business, NBC News, U.S, NAR, Nation One Mortgage Corp Locations: Alhambra , California, Minnesota, Woods

☆ Home buyers and sellers to be spared automatic broker commissions under $418 million settlement
▼ + stars: | 2024-03-15 | by ( Rob Wile | ) www.cnbc.com time to read: +3 min

The National Association of Realtors has agreed to a landmark settlement that would eliminate real estate brokers' long-standing automatic commissions, commonly of up to 6% of the purchase price. Instead, home buyers and sellers would be able to negotiate fees with their agents upfront. If the $418 million legal agreement is approved by a federal court, consumer advocates predict the ranks of real estate agents will thin, further driving down commission prices. "For years, anti-competitive rules in the real estate industry have financially harmed millions," said Benjamin Brown, managing partner at the Cohen Milstein law firm and one of the settlement's negotiators. "It's a bribe," Doug Miller, an attorney and longtime consumer advocate in the real estate industry, said of the commission-splitting arrangements.

Persons: Benjamin Brown, Cohen Milstein, Nykia Wright, Wright, —, Doug Miller Organizations: National Association of Realtors, NAR, MLS

☆ Real-Estate Agents Use 'Steering' to Hide Cheap Houses From Homebuyers
▼ + stars: | 2024-03-13 | by ( James Rodriguez | ) www.businessinsider.com time to read: +14 min

Technically, the seller can promise as little as $0 to the buyer's agent; after all, why pay for someone you didn't hire? But multiple agents told me there are all kinds of ways shady practitioners try to skirt the rules. Critics say the stickiness of the going commission rate is evidence of steering's ubiquity. He said buyers' agents might call and say, "'Why is there no buyer's commission?" There are lots of willing brokers out there; if you suspect steering, agents told me, you've got plenty of options for a second opinion.

Persons: should've, Redfin, Julie —, Julie, Wendy Gilch, Gilch, they're, Doug Miller, Real, Rex, Keller Williams, I'm, Brendon Bowers, we're, Stephen Brobeck, Brobeck, they'll, you've, Rich, they've Organizations: Department of Justice, National Association of Realtors, Business, Facebook, Realtors, NAR, Consumer Federation of America, DOJ Locations: America, Minnesota, Austin, Houston, Kansas City , Missouri, Phoenix

NEW ORLEANS (AP) — A member of the chain crew at a game between Detroit and New Orleans was taken to a hospital with a dislocated knee that occurred when Saints running back Alvin Kamara was tackled into him. The game was delayed in the first half so physicians from both teams could treat Piazza as he lay on the turf along the Detroit sideline. This was the first time since 2010 that a member of the chain crew was taken from a Saints game at the Superdome. That season, Saints receiver Courtney Roby collided hard with chain crew member Al Nastasi Jr. while Roby was serving as the gunner on punt coverage during a game against the Cleveland Browns. He ultimately recovered and returned to work with the chain crew.

Persons: Alvin Kamara, Doug Miller, Nick Piazza, Derrick Barnes, Kamara, writhed, Miller, Courtney Roby, Al Nastasi Jr, Roby, Nastasi, ___ Organizations: ORLEANS, University Hospital, Piazza, Lions, New, Cleveland Browns Locations: Detroit, New Orleans

Search resuls for: "Doug Miller"

4 mentions found