Realtor commissions explained

A class action lawsuit alleges the rules written by the National Association of Realtors have created inflated commissions unbeknownst to buyers and sellers. Here’s a look at how the commissions are determined and what the lawsuit is alleging.

Welcome to the KARE 11 News YouTube channel. Subscribe to our channel for compelling and dramatic storytelling, award winning investigations, breaking news and information you can use.

Text your photos, videos and news tips to 763-797-7215.

[MODO]

I am a seller and I will pay 7% commission to my sales agent. Sold the property for $75000 and after all the fees, charges and commission i end up paying I will get only little over $66000 net proceeds . Now that's a legal robbery

[beckable]

There are MANY FALSE statements in this video. -realtor Bridget (hopefully some people fact check that these are not NAR rules.)

[bimil]

Who the hell in 2024 is using a realtor to buy or sell a home. My god, it's so 1980.

[SteepVisions]

So as a buyer I could ask to see what commissions my agent would be receiving on the houses I'm looking at. From there I can only pick the houses with sellers which made a good deal with the brokerage/agent they chose. This would bring back competition.

[JoseMartinez-fwex]

I do this day in and day out I can tell you how much your house will sell for and how to sell it fast and I can help you negóciate with the sellers and make sure you pass all inspections, I can also help buyers negóciate the house to a good price for them and help them fined a good house that the bank will finance or if it’s even in an good area or if the prices in the area are going up or down. I think I’m worth my 2.5% commission. My broker takes 20% of that I don’t keep it all. I make an average of 2, 000 that I have to pay taxes on at the end of the year.

[tonyatibbetts]

The AGENTS don't necessarily earn a full 3% as this video states. The BROKERAGES get paid first. Then, they have a "split" or agreement with their agents determining their pay. Way to make it look like every dime goes to the agent...it doesn't, and we are one of the very few career industries that puts a significant amount of money OUT before we see a possibility of it coming IN. Is that a risk some of you would take, or COULD take? You need to have $$ in the bank to do this career. And we work pretty much 24/7 without a vacation that we can be 100% OFF and left to enjoy our time

[jenniferhodgson]

This whole video is a joke! Where in the NAR rules does it say any of this?
Has this guy ever bought or sold a home?
There’s a seller/agent agreement and a buyer/agent agreement both outlining the fees of agent services.
All fees are negotiable.
The seller doesn’t “pay” out of pocket, the seller agrees to disperse monies owed to services from the transaction of the sale.
The price of a home is based on market value, not agent fees.

[zach]

lol no thats not how it works KARE 11 needs to do more research than reading huffpost blogs

[Mugetsu]

On 18th of july the law of changed in 2024 now buyer will give the commision on his own.

[JoseMartinez-fwex]

I do this day in and day out I can tell you how much your house will sell for and how to sell it fast and I can help you negóciate with the sellers and make sure you pass all inspections, I can also help buyers negóciate the house to a good price for them and help them fined a good house that the bank will finance or if it’s even in an good area or if the prices in the area are going up or down. I think I’m worth my 2.5% commission. My broker takes 20% of that I don’t keep it all.

[BethSohn-by]

Completely and totally untrue. This is a very biased opinion- commissions have always been negotiable.

[nullnull]

"Screws one of the only jobs left that helps the middle class succeed"

[dcguy]

Laughing at all the butt hurt agents now that the party's officially over 🤣🤣🫵🏽