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☆ Average homebuyers are beating out Wall Street landlords
▼ + stars: | 2023-11-29 | by ( James Rodriguez | ) www.businessinsider.com time to read: +15 min

The shutdowns of 2020 created a perfect storm for the housing market — and supercharged the clash between Wall Street and regular homebuyers. Given the attention these markets received during the pandemic, it's no wonder that the battle between Wall Street and Main Street became the dominant story of COVID-era homebuying. Advertisement"If Wall Street was really gobbling up Main Street," Sharga told me, "we would see homeownership rates go down." Wall Street landlords have also been increasingly selling off homes to regular people, a Business Insider analysis found. Still circlingWhile average homebuyers have staged a comeback over the past three years, Wall Street isn't ready to jump out of the housing market altogether.

Persons: homebuyers, That's, Wall, elbowed, Rick Sharga, CJ Patrick Company, they're, who've, Axios, Sharga, CoreLogic, Pretium —, John Voorheis, Voorheis, —, Freddie Mac, James Rodriguez Organizations: Rage, Federal Reserve Bank of Philadelphia, Parcl Labs, Labs, National Association of Realtors, Wall Street, Investor, Wall, Tricon, Associates, Investors, Center for Economic Studies, Census Locations: Phoenix, Chicago, homebuilders, homeownership, Dallas, Charlotte, North Carolina, Atlanta

☆ She bought a house without using a realtor. Did you?
▼ + stars: | 2023-11-28 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +5 min

Diem Nguyen recently bought a home near San Francisco without using a real-estate broker. AdvertisementIn October, Diem Nguyen bought a home in the San Francisco Bay Area for $1.6 million — without a realtor. About 88% of homebuyers this year used a real-estate agent, Zillow found . Have you bought a home without a real-estate agent? (Aalto does have a team of real-estate agents working behind the scenes, but they are salaried rather than paid by commission.

Persons: Diem Nguyen, —, Aalto, Buyers, Nguyen, Zillow, Sellers, Jordan Pandy, Ilyce Glink, Samuel J, Tamkin Organizations: Service, San Francisco Bay Area, country's, Buyers, Rocket Mortgage, Washington Post, Sarasota Herald, Tribune Locations: San Francisco, San Francisco Bay, California, Washington, Zillow, Sarasota

☆ How much the typical first-time home buyer puts toward a down payment and where they get the money
▼ + stars: | 2023-11-28 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +4 min

The typical first-time home buyer made a down payment of 8% and relied on their savings to do so. Why has the typical down payment for first-time buyers reached an over two-decade high when the housing market is so expensive? In part, it's because wealthier first-time buyers — who can more easily afford a higher down payment — have been particularly active in the housing market. In 2023, the typical first-time homebuyer had a household income of $96,000, up from $71,000 in 2022. Last year, the share of first-time homebuyers reached 26% , the lowest level since the survey began in 1981.

Persons: —, homebuyer, Jessica Lautz, it's, homebuyers Organizations: Service, National Association of, NAR

☆ Harrisburg, Pennsylvania is the No. 1 place to retire in America, recent study shows
▼ + stars: | 2023-11-27 | by ( Celia Fernandez | ) www.cnbc.com time to read: +3 min

According to a recent U.S. News and World Report ranking, the state of Pennsylvania dominates the list of best place to retire in the U.S. Harrisburg ranked as the best place to retire in the U.S. in 2024, according to U.S. News and World Report. Richard T. Nowitz | The Image Bank | Getty ImagesHarrisburg, Pennsylvania's capital, ranked as the best place to retire in the U.S. Reading, Pennsylvania ranked as the second-best place to retire in the U.S. in 2024, according to U.S. News and World Report. 3 best place to retire in the U.S. in 2024, according to U.S. News and World Report.

Persons: Richard T, Penn ., Alex Potemkin, RentCafe Organizations: . News, U.S . News, U.S, Harrisburg, Bank, Getty Images, Allentown , Penn . New York City, Daytona, Reading Railroad, Monopoly, Istock, Getty Locations: U.S, Florida, Pennsylvania, Northeastern, Puerto Rico, Harrisburg, Penn, Getty Images Harrisburg, New York City, Philadelphia, Baltimore, Washington, East Coast, Zillow, Reading, Penn . Lancaster, Scranton, Allentown , Penn . New York, Allentown , Penn . New York City York, Daytona Beach, Fla . Youngstown , Ohio Pittsburgh, Reading , Pennsylvania, Lancaster, Reading , PA, Lancaster . Lancaster , Pennsylvania

☆ 10 cities where millennials are moving
▼ + stars: | 2023-11-27 | by ( Noah Sheidlower | Jordan Pandy | ) www.businessinsider.com time to read: +5 min

One in four millennials moved to a different city in 2022, many for work or cost of living concerns. Nearly 17,300 millennials relocated to Cambridge in 2022, bringing the total percentage of millennials to 38% of the total population. Seattle and Sunnyvale, California, also saw comparable moves, as millennials who moved in 2022 made up about 12.5% of the total population for both cities. When looking at the top cities by percentage of total millennials compared to the total population, Jersey City, New Jersey, ranked first at 41.5%, followed by Seattle, Denver, and Austin. However, Port St. Lucie in Florida had the lowest rate of millennials moving in compared to the total population at 4.8%, followed by Brockton, Massachusetts.

Persons: —, Jaclyn DeJohn, millennials, Millennials, DeJohn, SmartAsset, Gen Xers Organizations: Cambridge, Service, Survey, Business, Harvard University, Massachusetts Institute of Technology, Intel, Nvidia, Lone Star State, Waco, Fort Hood, Fontana Locations: Santa Clara , CA, Seattle, Cambridge , Massachusetts, Santa Clara , California, Boston, Cambridge, Santa Clara, Silicon Valley, Santa Clara's, Georgia, Sandy Springs, Sunnyvale , California, Denver, Bellevue , Washington, Arlington , Virginia, millennials . Arlington, Hialeah , Florida, Arlington, Killeen , Texas, Austin, Jersey City , New Jersey, Port St, Lucie, Florida, Brockton , Massachusetts, Cities, California, Santa Ana, Moreno, Surprise , Arizona, Bend , Oregon, Scottsdale , Arizona, Orlando . Florida

☆ Gen Z, millennials are ‘house hacking’ to become homeowners in a tough market. How the strategy can help
▼ + stars: | 2023-11-26 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

Gen Z and millennials are "hacking" the housing market as high prices and interest rates make affordability difficult. The term "house hacking" refers to the practice of renting out a portion of your home or an entire property for an additional stream of income. Almost 4 in 10, 39%, of recent homebuyers say the practice represents a "very" or "extremely" important opportunity, according to a new report by housing market site Zillow. In Zillow's survey, more than half of millennial, 55%, and Gen Z home buyers, 51%, expressed positive views on house hacking. The average rate for 30-year mortgages hit 8% in October, the highest level seen in 23 years, according to Bankrate.

Persons: Z, Gen, Zillow, homeownership, Manny Garcia Organizations: Finance, Homebuyers Locations: U.S

☆ New homeowners are fleeing their pandemic-era digs to be closer to the office, report says
▼ + stars: | 2023-11-24 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +2 min

Large employers like Apple, Google, and Tesla are calling employees back to the office. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . About 10% of US house sellers are looking to move specifically because of policies about working in the office, according to a September report by Redfin cited by the Journal. But it's also a boom for city housing markets, which was once sluggish thanks to high interest rates.

Persons: Tesla, —, Redfin, Elon Musk, it's Organizations: Apple, Google, Service, Wall Street, Journal, SpaceX, Elon Locations: U.S, New York, San Francisco, Austin

☆ Home prices are poised to drop as the frozen housing market thaws, 2 top experts say
▼ + stars: | 2023-11-24 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Price drops may be needed to thaw the housing market, which could take years, Zandi said. Kelman expects home prices to drop next year, as listings are up and sellers are cutting prices. AdvertisementHouse prices may be headed lower, dealing a blow to sellers but providing relief to buyers, two experts say. The housing market ground to a halt this year, as the Federal Reserve's inflation-fighting hikes to interest rates have boosted mortgage rates to two-decade highs. "I don't expect the housing market to come roaring back here, certainly not in 2024," he said.

Persons: Mark Zandi, Glenn Kelman, Price, Zandi, Kelman, —, Morgan Stanley's, there's, we've, Redfin's Kelman Organizations: Service, Yahoo Finance, Fox

☆ Midwestern Cities Will Have Highest Winter Heating Bills, Study Finds
▼ + stars: | 2023-11-24 | by ( Eliza Relman | ) www.businessinsider.com time to read: +2 min

Residents of cities across the Midwest will be hardest hit by home heating costs this winter. A new study ranked US cities based on costs in relation to incomes, energy efficiency, and more. The study ranked heating expenses in the 500 biggest cities in the country based on several factors, including electricity and heating fuel costs relative to average income, home energy-efficiency, and things like weather and average home size and age. Cleveland and Flint have particularly energy inefficient homes, while Independence and St. Joseph ranked high on energy costs, the study reported. During the hot months, places like Florida and Georgia become the most unaffordable when it comes to HVAC costs, the study noted.

Persons: —, Joseph Organizations: Service, Midwest ., Midwestern, Puget, Census Bureau, Department of Energy, National Oceanic, Atmospheric Administration Locations: Midwest, Springfield , Missouri, Cleveland , Ohio, Independence , Missouri, Flint , Michigan, St, Joseph , Missouri, Midwest . Cleveland, Flint, Independence, Northeastern, Southern, Central California, Washington State, Florida, Georgia

☆ Finances are keeping some Gen Z and millennials up at night, survey finds
▼ + stars: | 2023-11-23 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

Gen Z and millennials are losing more sleep over their finances than older generations, a survey found. Less than half of Gen X and baby boomers said rising rent or home prices contributed to financial stress. Some 56% of Gen Z and 51% of millennial respondents to a survey by financial services company Empower published this week said their finances were keeping them up at night. Meanwhile, 62% of Gen Z and millennial respondents said rising contributed to their financial stress, while only 38% of older respondents said the same. Home ownership has long been more elusive for millennials and Gen Z.

Persons: Z, X, —, Gen Z, Gen Zeds Organizations: Service, Redfin

☆ A financially independent investor shares the strategy he used to buy a NYC apartment for 'about 20% cheaper than I would have bought it last year'
▼ + stars: | 2023-11-23 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

"A, people have less access to capital and less purchasing power because interest rates are so high. People don't want to leave their lower interest rates to enter into a higher interest rate mortgage." This is a strategy that California-based real estate investor Mike Zuber refers to as " learning your buy box ." To pick your buy box, spend time walking through different neighborhoods, going to open houses, and looking at rental listings. He had a major advantage in that he could make all-cash offers, he noted, but anyone can use the "buy box" strategy to find deals right now when there are less buyers.

Persons: Grant Sabatier, it's, don't, Sabatier, they're, Mike Zuber, seasonality, It's Organizations: Rolex, Business Locations: Ohio, Indiana, New York City, California, Park Slope, New York

☆ 20 metro areas with the highest share of home-price cuts in October, some in the $200,000s — plus 6 aggressive bargains buyers can ask for, according to 2 real-estate experts
▼ + stars: | 2023-11-22 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

The significant advantage to buyers is negotiating power, and if done right, it could help offset some of those higher mortgage rates. Below is a list of 20 metro areas with the highest share of home sellers dropping their listing prices in October. The data is based on the top 50 most populated areas as defined by the US Census Bureau. If they need to move by a specific date or need that cash, you can offer a quick closing. More than one-third — or 35% — of home sales in the three months ending October 31 included concessions to buyers, according to Redfin.

Persons: Shmuel Shayowitz, It's, Shayowitz, Dottie Herman, Douglas Elliman, Herman, Price Organizations: Competition, Business, US Census Bureau, Orlando, Phoenix, DC Locations: Redfin, Metro, Cincinnati, Indianapolis, Denver, Tampa, Portland, Antonio, Austin, Dallas, Minneapolis, Worth , TX, Jacksonville, Louis, Sacramento, Seattle, WA, Baltimore, Cleveland, Houston, AZ, Kansas City, Washington

☆ Baby boomers got rich off real estate and they are in perfect position to do it again
▼ + stars: | 2023-11-19 | by ( Cork Gaines | ) www.businessinsider.com time to read: +5 min

Nearly one-fourth of that was built through real estate equity. With less pressure from interest rates, they can take advantage of the current real estate market, too. They're also in the perfect position to help themselves by taking advantage of the current real estate market. However, boomers can make stronger bids on homes for sale because of their savings and real estate equity. AdvertisementMeanwhile, more than one-third of house purchases in September were all-cash, according to the real estate broker RedFin.

Persons: —, They're, Jessica Lautz, RedFin, Jeremy Grantham, Grantham, David Rosenberg, Rosenberg, Merrill Lynch Organizations: Service, National Association of Realtors, NAR, Brigade, Census Bureau, Federal, Rosenberg Research, North, Federal Reserve Locations: North American

☆ Spiking mortgage rates are pricing poorer Americans out of the housing market – with a third of all homes bought in cash, Redfin says
▼ + stars: | 2023-11-17 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Mortgage rates have soared north of 7% in recent months, driven higher by the Federal Reserve's war on inflation. One-in-three homebuyers are paying all-cash rather than taking out a mortgage, according to data from Redfin. AdvertisementMore than a third of homes are being bought in cash, according to data from Redfin, with low affordability and high mortgage rates pricing poorer Americans out of the housing market. That's a sign that wealthier Americans are making up a greater share of homebuyers with sky-high mortgage rates pricing out the rest of the population, Redfin said. Existing homeowners have also opted to cling to the historically low mortgage rates they locked in over the last 15 years.

Persons: —, Redfin, Dana Anderson, Freddie Mac Organizations: Federal, Service, National Association of Realtors, Business Locations: That's

☆ Sorry New York and San Francisco, these 4 red-state cities could be the future of America
▼ + stars: | 2023-11-15 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +2 min

Houston, Dallas, Miami, and Nashville are poised to become economic powerhouses in the US. The future of the energy, healthcare, and finance industries could be in these cities. That's because economic power is flowing to the middle of the country — and places like Houston, Dallas, Nashville, and Miami are becoming hotspots. Just like New York City has Wall Street and San Francisco has Silicon Valley, Houston has its energy economy and Miami has its proximity to Latin America and growing financial industry. Miami, meanwhile, was the city users were most interested in relocating to — Dallas and Houston ranked eighth and tenth, respectively.

Persons: —, Mason, Dixon, Stanford, Niall Ferguson, Barron's Organizations: Houston, Service, San, Hollywood, Dallas Locations: Dallas, Miami, Nashville, New York, San Francisco, Houston, New York City, Silicon Valley, America, Los Angeles, Washington, DC, Franciso , New York City, . Miami

☆ Homebuyers struggling to score a house right now have a glimmer of hope
▼ + stars: | 2023-11-14 | by ( Josée Rose | Zoe Rosenberg | ) www.businessinsider.com time to read: +4 min

Taylor Morrison's COO said builders can often offer homebuyers better rates on a newly built house. High mortgage rates, home prices teetering near an all-time high, and historically low inventory are keeping many buyers — and sellers — on the sidelines. The larger share of new homes on the market means paying a mortgage rate around 7% isn't the only way into a home. During its third-quarter earnings call , Taylor Morrison explained that it's attracting "well-qualified consumers even among our first-time homebuyers" and 88% of its buyers are using its financing assistance. As Business Insider previously reported, would-be buyers may have more luck securing a lower rate if they buy a new-construction home.

Persons: Taylor, Erik Heuser, Heuser, —, homebuilder Taylor Morrison, Taylor Morrison, Freddie Mac, Tawn Kelley, It's, they're Organizations: Service, Finance Locations: Florida , Texas, North Carolina, Georgia, Arizona, Washington, Nevada

☆ Middle-class movers are heading to these three cities in search of affordability
▼ + stars: | 2023-11-13 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +6 min

Middle-class movers are choosing Las Vegas, Phoenix, and San Antonio as top destinations. It was the second-most popular destination for middle-class movers coming from out of state, the report said. While cities like Austin saw a surge in home prices, San Antonio has been able to maintain some of its affordability. AdvertisementAdvertisement"If you were to ask me, I'd still tell you San Antonio's more affordable than most cities in Texas," San Antonio real-estate agent Ricardo "Rico" Riojas, Jr. told Insider. San Antonio, Texas.

Persons: —, Andrew Arevalo, Getty Images Arevalo, Redfin, Arevalo, there's, he's, We've, Stephanie K, Dow, I'd, Ricardo, Rico, Riojas, Jr, Allan Baxter, San Antonio — Organizations: Service, Denver, Pew Research, Getty Images, MLS, Las Vegas, San Antonio, Getty, Austin Locations: Vegas, Phoenix, San Antonio, The Nevada, Arizona , Nevada , Florida, Texas, Sin, Colorado, Nevada and Colorado, Clark County, Las Vegas, Denver, California, Arizona, Phoenix , Arizona, San, . Texas, Austin, Antonio, Antonio , Texas

☆ The housing market is loosening up as mortgage rates sink, but 'window of opportunity could be narrow'
▼ + stars: | 2023-11-09 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The housing market is loosening up as supply climbs and home prices drop, Redfin said. "I'm advising buyers to lock in a mortgage rate as soon as they drop to a number where they can make the math work." AdvertisementAdvertisementThe housing market is loosening up as mortgage rates have tumbled, but it doesn't necessarily guarantee lasting relief for buyers, Redfin said. In the last week, the 30-year fixed mortgage rate notched its biggest weekly drop in over a year, sliding from 7.86% to 7.61%. Though mortgage rates are still near 23-year highs, these adjustments are enough to trim a few hundred dollars of a monthly payment, Redfin said.

Persons: Redfin, —, Hal Bennett, homebuyers, Lisa Cook Organizations: Service, Federal Reserve

In a TikTok video, different generations revealed the rent prices for their first apartments. Viewers were left shocked after one baby boomer said he paid $98 per month for his first apartment. AdvertisementAdvertisementWhile a growing economy allowed the typical baby boomer to generate wealth, many millennials and Gen Zers have been weighed down by rising inflation and high rental costs. Several people argued that these prices do not account for inflation, but others pointed out that rent prices are still much higher today, even with inflation considered. Most recently, Gen Zers have been speaking out against work culture, arguing 9-to-5 schedules and in-office mandates are flawed.

Persons: boomer, Zer, Gen Zers, @captainmooseknuckless, Xer, Insider's Hillary Hoffower, Xers, Zers Organizations: Boomers, National Association of Realtors Locations: Baltimore , Maryland, Green Bay , Wisconsin, Hoboken , New Jersey, Savannah , Georgia, Denver , Colorado, Michigan, Zillow

☆ How the cost of homebuying and selling will change after landmark court loss over real estate commissions
▼ + stars: | 2023-11-07 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +4 min

A recent jury verdict against the National Association of Realtors and large residential brokerages could upend the residential real estate industry. Here's what real estate agents, homebuyers and sellers need to know about potential changes in residential real estate economics. A bad time for bad news in real estateThe jury verdict comes at a time when many real estate agents are already feeling a pinch. At a time when home sales are already under pressure, "this lawsuit is just another punch in the gut for real estate franchises," said Bill Gross, a self-employed real estate broker associate in California with eXp Realty. Lawsuits focused on fees reinforce the general trend of trying to lower fees in the real estate market, Schipani said.

Persons: Max, Mike DelPrete, Bill Gross, there's, Keefe, Ryan Tomasello, Gilbert J, Schipani, we've, Glenn Kelman Organizations: National Association of Realtors, NAR, realtors, Max Holdings, Federal, University of Colorado Boulder, eXp Realty, Tempus Fugit, Compass Locations: Missouri, Kansas City, St, Louis, Springfield, Columbia, U.S, California

☆ The rise of the McMansion: 11 charts show just how much bigger and fancier American houses have gotten since the 1970s
▼ + stars: | 2023-11-07 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +5 min

Data on the characteristics of newly constructed homes for 2022, released in June by the Census Bureau, revealed homes continued to get bigger after shrinking from 2015 to 2020. A higher share of four-bedroom houses were built, most constructed with air conditioning, and more houses are doing away with fireplaces. In 2022, nearly half of all homes constructed had four bedrooms, compared to two-bedroom homes at 9%. Houses have remained relatively the same height, with a slightly higher percentage of one-story homes and slightly fewer percentage of two-story homes compared to 10 years ago. The median are now comes in at around 2,300 square feet for houses built in 2022.

Persons: Goldman Sachs, —, Glenn Kelman, Realtor.com, it's, Brick Organizations: Service, Census, Myrtle Locations: Conway, Myrtle Beach, South Carolina, Las Vegas, Henderson, Paradise, Stockton , CA

☆ Real-estate agents may be forced to charge home buyers less, thanks to a new $1.8 billion verdict
▼ + stars: | 2023-11-05 | by ( James Rodriguez | ) www.businessinsider.com time to read: +11 min

On Tuesday afternoon at a courthouse in Kansas City, Missouri, the collective nightmare of the real-estate industry became reality. For decades, the basic structure of how real-estate agents get paid when they help someone buy or sell their home has remained roughly the same. Here's how it works: When you list your home for sale on an MLS, you're required to offer a commission to the buyer's agent. The good buyer's agents who can prove their value will be fine, Brobeck predicted. Buyers might also start making offers on the condition that the seller agrees to pay both agents' commissions — otherwise, no deal.

Persons: Burnett, —, Stephen Brobeck, Brobeck, Mike Rosenthal, Rosenthal, Sellers, Saul Klein, you've, Klein, Keller Williams, Bob Goldberg, Inman, Opendoor, James Rodriguez Organizations: National Association of Realtors, NAR, MLS, Consumer Federation of America, Consumer, nab, New York Times, Justice Department Locations: Kansas City , Missouri, Missouri , Illinois, Kansas, California

☆ A $1.8 billion earthquake just hit the real estate industry
▼ + stars: | 2023-11-05 | by ( James Rodriguez | ) www.businessinsider.com time to read: +11 min

On Tuesday afternoon at a courthouse in Kansas City, Missouri, the collective nightmare of the real-estate industry became reality. For decades, the basic structure of how real-estate agents get paid when they help someone buy or sell their home has remained roughly the same. Here's how it works: When you list your home for sale on an MLS, you're required to offer a commission to the buyer's agent. The good buyer's agents who can prove their value will be fine, Brobeck predicted. The wild thing is, the decision could be just the beginning of tumult for the real-estate industry.

☆ An Airbnb host whose SF duplex was flooded by a guest says she only got enough compensation to 'make a difference' after posting on X
▼ + stars: | 2023-11-05 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +7 min

Erika Gemzer says her Airbnb guests flooded her San Francisco duplex, leaving her $300,000 in debt. She posted a thread on X six months later, criticizing Airbnb for its compensation offer. AdvertisementAdvertisementSix months after Airbnb host Erika Gemzer's duplex in San Francisco was flooded, she took to social media to confront the vacation rental company. Here's the story of how I ended up pregnant and homeless and in over $300,000 of debt after Airbnb guests flooded my home. While the new amount doesn't cover everything, it covers enough to "make a difference," Gemzer told Insider via text.

Persons: Erika Gemzer, Airbnb, Gemzer, —, Erika Gemzer's, rika, ake, emzer, rika G emzer, ince, ingle, lanning, ike Organizations: Service, ust Locations: Francisco, San Francisco

☆ After a $1.8 billion verdict, the clock is ticking on the 6% real estate commission
▼ + stars: | 2023-11-05 | by ( Manav Tanneeru | Anna Bahney | ) edition.cnn.com time to read: +7 min

And yet, every day, people across America hire a real estate agent to help them sell a home. While state governments license real estate agents, NAR has an extensive code of ethics it expects members to adhere to. NAR and the brokerages have vowed to appeal the verdict, which means real estate commissions aren’t going anywhere immediately. Last month Redfin, an internet real estate company, left the association. The longer-term impact of the verdict may be that the pairing of buyer’s agent commission and seller’s agent commission will eventually be separated.

Persons: Keller Williams, –, Corcoran —, Kenny Parcell, ”, Mantill Williams, Darryl Frost, homesellers, Stephen Brobeck, ” Brobeck, Jen Davis, ” Davis, “, they’ll Organizations: DC CNN, National Association of Realtors, Homeservices, Keller, Keller Williams Realty, Coldwell Banker, Sotheby’s, Realty, NAR, US Department of Justice, “, Consumer, Consumer Federation of America, Holt Homes Group Locations: Washington, America, Missouri, Keefe, Springfield , Missouri

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