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May 23rd, 2024 by

                                                          

 

             What's changed in real estate commissions

 

Recent news reports about the settlement of a class action lawsuit between a group of home sellers and the National Association of Realtors (NAR) regarding real estate commissions for residential property have been in the headlines. For many years, the average commission paid by the seller on a home sale has been about 5.3% of the selling price, with half going to the seller's broker and half going to the buyer's broker. Additionally, the average selling price of a house with a realtor versus a house sold "By Owner" is a 16% difference in favor of the...

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