Why do sellers pay buyer-broker commissions?
The system of sellers funding commissions, which are then shared between seller and buyer agents, goes back more than 100 years. Is it time for a change?
July 28, 2023
Dave Gallagher
Director, News Reporting
Dave's journalism career spans 24 years covering business, the economy and real estate in Northwest Washington. He's also a numbers nerd, examining data to spot emerging trends in industries. Having started his career as a sports writer, he's a lifelong baseball and soccer fan and recently discovered pickleball. He grew up in Yosemite National Park and earned his journalism degree at Humboldt State University in northern California.
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- Mortgage rates move closer to 7%The 30-year fixed-rate mortgage rose to 6.81% this week as the Fed raised its benchmark rate to the highest level since 2001.July 27, 2023
- Rentals can be a ‘perfect hedge’ during a slow marketThe property management platform RentSpree is seeing an uptick in real estate agent customers as for-sale inventory remains limited.July 27, 2023
- Home equity reaches a 4-year highThe percentage of equity-rich homes hit 49% in the second quarter, rebounding after a decline earlier in the year.July 26, 2023
- After pausing in June, the Fed hikes rates againThe benchmark rate is now in the 5.25-5.5% range, the highest level in 22 years.July 26, 2023
- Another strong quarter for CoStar as revenue, site traffic climbsThe commercial and residential real estate giant continues to grow revenue and income while also investing in Homes.com.July 25, 2023
- Commissions lawsuits continue to progress in the US, CanadaThe defendants in several major lawsuits have not gained any ground this summer as the first case moves toward trial in less than 3 months.July 24, 2023
- Bright MLS to allow $0 buyer broker commissionsNAR's acceptance of the move by the nation’s second-largest MLS comes as the industry faces significant legal challenges to buyer’s agent compensation.Updated December 12, 2024
- Mortgage rates post biggest weekly drop in 3 monthsThe 30-year fixed-rate mortgage averaged 6.78% this week, down from nearly 7% a week before, suggesting that cooling inflation is having an effect.July 20, 2023
- It’s a tough market — but a profitable one for sellersThe latest ATTOM home sale report found that second-quarter profit margins rose for the first time in a year.July 20, 2023
- Top strategy exec returns to Compass after 2 years awayMark A. McLaughlin is back at Compass as the company’s chief real estate strategist. He left the company in 2021 to pursue consulting opportunities.July 19, 2023
- Builder confidence is up as more buyers opt for new homesWhile rising interest rates have slowed the rate of increase, confidence is at its highest level in more than a year.July 18, 2023
- Foreclosures trending up but well below crisis levelsMore than 185,000 properties had foreclosure activity in the first half of 2023, up 13% from last year.July 18, 2023
- Could manufactured homes be the next big thing in housing?Prefab homes don't have the sexiest reputation, but modern styles mimic traditional homes — and could make homeownership more attainable.July 13, 2023
- 3 things to know about IDX and listings accessAfter Howard Hanna announced it was dropping IDX, the listings feed service has been a hot topic. But how does it work, and why does it matter?Updated July 13, 2023
- Bringing back the dream for California’s first-time buyersThe state’s "Dream for All" down payment assistance program has received more funding after quickly running out of money earlier this year.July 11, 2023
- Hanna’s move to limit listings: Conversation starter or something more?The country’s largest independent brokerage recently pulled out of IDX in the Cleveland area, touching off widespread discussion. Will its approach catch on?July 7, 2023
- Buydowns, rate lock fees can be powerful negotiation toolsIn this high-interest rate, low-inventory environment, creative financing tactics can help agents and their clients seal the deal.July 7, 2023
- Mortgage rates reach a new high for 2023At 6.81%, the weekly average for a 30-year fixed-rate mortgage is the highest level seen since last fall, when rates spiked above 7%.July 6, 2023
- Housing market's 'about face' upended expectations for 2023Inventory levels aren't following their typical pattern, reversing predictions for the second half of the year.July 1, 2023
