End of 6% Commission era upends misleading Pricing Model used by Zillow, Portals
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2 threads
I just participated in a land purchase and somehow the seller's agent was able to secure 8% [4% on each side]! For two hours of work, the buyer's agent made a tidy profit... this recent legal ruling is long overdue.
8%! Only time ive seen elevated commissions like that is when the overall price is low (common with raw land).
Time for the homebuilders! Commission margin reduction will accrue to homebuilders.
yes - Saw an article in Grants Interest Rate Observer make a similar point. Homebuilders are the big winners of this.