this post was submitted on 31 Oct 2023
445 points (99.8% liked)

News

23374 readers
2831 users here now

Welcome to the News community!

Rules:

1. Be civil


Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.


2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.


Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.


3. No bots, spam or self-promotion.


Only approved bots, which follow the guidelines for bots set by the instance, are allowed.


4. Post titles should be the same as the article used as source.


Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.


5. Only recent news is allowed.


Posts must be news from the most recent 30 days.


6. All posts must be news articles.


No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.


7. No duplicate posts.


If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.


8. Misinformation is prohibited.


Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.


9. No link shorteners.


The auto mod will contact you if a link shortener is detected, please delete your post if they are right.


10. Don't copy entire article in your post body


For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 1 year ago
MODERATORS
 

A federal jury ruled on Tuesday that the powerful National Association of Realtors and several large brokerages had conspired to artificially inflate the commissions paid to real estate agents, a decision that could radically alter the home-buying process in the United States.

The realtors’ group and brokerages were ordered to pay damages of nearly $1.8 billion. The verdict allows the court to issue treble damages, which means they could swell to more than $5 billion.

Will update with non-paywalled link when one becomes available.

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 51 points 1 year ago* (last edited 1 year ago) (3 children)

I can say, with absolute certainty, that is not the norm.

For every sale they make, there are countless others they don't. And they still have to put in the time.

I've gone through many realtors looking for a house, all of them gave me hours of their time and didn't see a penny in return.

That said, I don't think realtors are necessary and we should push the idea that people shouldn't use them unless they think they need to.

[–] [email protected] 8 points 1 year ago

Sure, that's still 50k for a single sale, sell two like that a year and you don't need to work the rest of the year.

[–] Cheesus 8 points 1 year ago* (last edited 1 year ago) (1 children)

She did a great job and recommend her to all my friends, but the amount of hours she put in wasn't that high for her return. I know I'm paying for knowledge, not hours but it still doesn't feel right.

Our budget really limited what we could buy. So much of it felt unnecessary, like every house has disclosures but you can't view them without emailing my realtor. Every offer is the same, waive all contingencies and bid what you think not what it's listed at. I think realtors are needed in the transaction but the pay isn't correct.

[–] webhead 4 points 1 year ago* (last edited 1 year ago)

The other realtors are the ones making it this difficult so that you need realtors though lol.

The house we bought and one one we sold, we had an absolutely fantastic realtor but he also lowered his commission on the sale so that we could still make the numbers we needed to afford everything. He was a great one.

It would be nice if we weren't literally forced into that though. We wanted to look at a house on Zelle and they assigned this person to us. Like we literally couldn't look at a house without one. That's ridiculous. I'm happy with the person we got and he absolutely worked his ass off for what he got but the fact you're forced into it basically doesn't sit well with me.

[–] FlyingSquid 8 points 1 year ago

Our realtor was like our best friend for a month while we were looking for houses (not in a creepy way, in a helpful way) and gave us a big wreath when we bought our house. He definitely put the time in.