( ) -q-29- UNDATED (Correspondent Jeremy House) “Multiple Listings Service.” A series of court challenges seek to upend longstanding real estate industry practices that determine the commissions agents receive on the sale of a home — and who foots the bill. [CutID: <Cuts> REAL-ESTATE-COMMISSIONS-house-q-THUam.mp3 Time: 29s Title: REAL-ESTATE-COMMISSIONS-house-q-THUam Out-cue: Multiple Listings Service] TAG: Correspondent Jeremy […]
Audio
Real estate industry faces pushback to longstanding agent commissions rules
( ) -q-29- UNDATED (Correspondent Jeremy House) “Multiple Listings Service.”
A series of court challenges seek to upend longstanding real estate industry practices that determine the commissions agents receive on the sale of a home — and who foots the bill.
[CutID: <Cuts> REAL-ESTATE-COMMISSIONS-house-q-THUam.mp3
Time: 29s
Title: REAL-ESTATE-COMMISSIONS-house-q-THUam
Out-cue: Multiple Listings Service]
TAG: Correspondent Jeremy House reporting.
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VERBATIM: One case ended this week with a federal jury in Missouri ordering the National Association of Realtors and some of the nation’s biggest real estate brokerages to pay almost $1.8 billion in damages after finding that they artificially inflated agent commissions. At least two other court cases are pending. At issue: whether home sellers should be forced to pay the commission for the buyer’s agent in order to have their home listed on the widely used Multiple Listings Service.