this post was submitted on 31 Oct 2023
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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.

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[–] Cheesus 79 points 1 year ago (14 children)

The amount realtors get paid to the amount of work they do is crazy. Mine spent like 10 hours showing homes, maybe 2-3 hours on the phone, and then the rest was handled by an admin for handling paperwork and DocuSign. For like 15-20 hours of work she got paid almost $50K.

[–] duffkiligan 37 points 1 year ago (3 children)

I’m not saying they are paid perfectly fairly, but the good realtors do a SHITLOAD of work that you aren’t seeing. This argument is no different than “why do we pay IT guys so much”. It’s not because it takes me 3minutes to reboot the computer, it’s because I have years of experience that leads me to that decision quickly. You also sound like an extremely easy client.

And 50k? At a 4/3 which is pretty typical for a buyers agent (at least in my neck of the woods) you bought a 1.5mil house?

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