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What you need to know about big changes to real estate
Mar 22, 2024
Real estate industry is going through big changes impacting homebuyers and sellers. Trump's involvement in January 6 is shaping his campaign. The Ghost Army's deception in WWII receives high honor. Podcast also covers UN resolution, legal actions, and a historic pig kidney transplant.
10:23
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Quick takeaways
- Real estate industry undergoing major changes with potential impact on transaction costs and agent incomes.
- Trump's campaign embracing support for January 6th Capitol attack participants signals a shift in Republican perspectives.
Deep dives
Real Estate Industry Faces Major Changes Due to Class Action Lawsuit Settlement
The National Association of Realtors agreed to pay $418 million to settle a class action lawsuit, signaling a significant shift in how homes are bought and sold in the United States. Previously, Realtors were found to have conspired to keep commissions high, leading to costs typically paid by sellers at a steady 6%. The settlement aims to overhaul this system, allowing for more negotiation in commission fees and possibly impacting agent incomes. If approved, this change could lead to a new era in real estate transactions, requiring adjustments from buyers, sellers, and real estate professionals.
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