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Top related persons:
Norm Miller - 2 Cowen - 1 Stephen Brobeck - 1 Miller - 1 ” - 1
Top related locs:
University of San Diego America U.S
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National Association of Realtors - 2 University of San - 2 CNN - 1 NAR - 1 Industry - 1 Consumer Federation of America - 1 The New York Times - 1 N.A.R - 1

Search resuls for: "Norm Miller"


2 mentions found


☆ The way Americans buy and sell homes is about to get turned on its head
  + stars: | 2024-03-18 | by ( David Goldman | ) edition.cnn.com   time to read: +6 min
CNN —The way Americans buy and sell homes is about to get turned on its head. And other broker tactics that critics say are anticompetitive, such as a rule that made sellers’ agents set compensation for buyers’ agents, will be prohibited. Goodbye, 6% commissionsFor decades, Americans have paid a standard commission of around 6% when selling a home, split between the seller’s broker and the buyer’s broker. A separate new rule will require buyers’ brokers to enter into written agreements with their buyers. Second, it led buyers’ brokers to push more expensive homes on buyers, so their payout would be higher.
Persons: Cowen, Stephen Brobeck, Norm Miller, Miller Organizations: CNN, National Association of Realtors, NAR, Industry, Consumer Federation of America, University of San Locations: America, University of San Diego
☆ Powerful Realtor Group Agrees to Slash Commissions to Settle Lawsuits
  + stars: | 2024-03-15 | by ( Debra Kamin | ) www.nytimes.com   time to read: +1 min
American homeowners could see a significant drop in the cost of selling their homes after a real estate trade group agreed to a landmark deal that will eliminate a bedrock of the industry, the 6 percent sales commission. The National Association of Realtors, a powerful organization that has set the guidelines for home sales for decades, has agreed to settle a series of lawsuits by paying $418 million in damages and by eliminating its rules on commissions. Legal counsel for N.A.R. approved the agreement early Friday morning, and The New York Times obtained a copy of the signed document. “This will blow up the market and would force a new business model,” said Norm Miller, a professor emeritus of real estate at the University of San Diego.
Persons: ”, Norm Miller Organizations: National Association of Realtors, The New York Times, N.A.R, University of San Locations: U.S, University of San Diego
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