The National Association of Realtors agreed to a $418 million settlement that could drive down commission rates across the nation
San Diego homeowners could see a drop in the cost to sell properties after a historic settlement with a national real estate agent group. The National Association of Realtors has agreed to pay $418 million to settle a series of lawsuits that alleged the organization conspired to keep agent commissions high. As part of the deal, the association will do away with rules that led to set commissions, which are typically around 5 to 6 percent.
There were only 1,678 homes sold that month, said CoreLogic, a tie for the lowest-ever sales month in San Diego County history. North County real estate agent Raylene Brundage, also a director at the California Association of Realtors, said the change will be good for the industry by making the process more professional. As a 20-year veteran of the industry, she said she's seen part-time agents or discount brokerages make mistakes that lead to lawsuits and, overall, bad deals for clients.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Things to do this weekend in San Diego: ShamROCK San Diego, King James and moreThere’s always something fun to do in America’s Finest City. Our Weekend events guide is here to help. Get up. Get out. Play!
Read more »
San Diego will consider major subsidy for Midway Rising's sports arena projectThe city of San Diego is open to offering the Midway Rising development team substantial financial assistance to make possible the redevelopment of the city's sports arena real estate in the Midway District.
Read more »
Home invaders targeted French bulldog puppies in San Carlos: San Diego policePolice are investigating after at least three men forced their way into a home early Saturday morning, resulting in one person being shot and taken to the…
Read more »
Photos: California's Coastline Under Siege by Atmospheric RiverHeavy winds and rain battered cities from San Francisco to San Diego.
Read more »
Boise St. Broncos vs San Diego St. Aztecs Line MovementCollege Basketball line and odds movement for Boise St. Broncos vs San Diego St. Aztecs on Mar 08, 2024.
Read more »
San Diego St. Aztecs Schedule, Live Scores & ResultsStay Up-To-Date With The Latest San Diego St. Aztecs Schedule, Live Scores, And Results For The 2023-2024 NCAAB Season!
Read more »