Zimmerman Reed is currently investigating the National Association of Realtors’ (NAR) compensation policies. This policy requires brokers who list sellers’ properties on the local multiple listing services (MLS) to include a “non-negotiable offer” of compensation to the buyer’s agent. This practice may prevent realtors from negotiating their own commission and may cause agents to steer clients to higher cost listings.
If you sold your home or another property in the past two years, we would like to assist you with your potential claim. Please fill out a Free Case Review or give us a call at 1.800.887.8029 to learn how we can help. Zimmerman Reed has experience handling antitrust claims and we are here to listen to your story and answer any questions you may have.
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When a property owner decides to sell their property using a realtor, the NAR rules require that the seller pay not only their own agent’s fees, but also those of the buyer. Refusing to follow those rules can lead to an agent being unable to use the MLS, an essential service for a realtor. This rule has led to total commission rates in the United States averaging at around 6%, with 3% going to each agent. This figure holds regardless of the value of the home, and regardless of whether the buyer depended on their agent or found the home themselves, such as through Zillow.
Economists have studied other countries with similar housing markets and believe that if the market were competitive, as the NAR claim, the commission figure would be closer to 1%. For many home sellers, a difference of several percentage points can mean thousands, or tens of thousands of dollars lost to an anti-competitive system.
How We Can Help
If you sold your home or another property in the past two years, we would like to assist you with your potential claim. Please fill out a free case review or give us a call at 1.800.887.8029 to learn how we can help you with your potential claim. Zimmerman Reed has experience handling antitrust claims and we are here to listen to your story and answer any questions you may have.