What $1.8 billion Ruling Could Mean For Real Estate Industry
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Earlier this week, a federal jury awarded $1.8 billion in damages against the National Association of Realtors and several real estate companies for finding that they artificially inflated brokerage commissions. Carter Evans takes a look at what the staggering payout could mean for the real estate industry, in the video published on Nov 1, 2023, by CBS Evening News, as “What $1.8 billion ruling could mean for real estate industry“, below:
Some believe that this decision may potentially eventually will help buyers and sellers saving $20 billion to $30 billion a year and for there to be greater correlation between the price consumers pay and the quality of service they will receive.
Potential trouble could trickle down to home sellers and buyers. This comes after a lawsuit brings attention to how commissions are earned by realtors, in the video published on Nov 3, 2023, by FOX 26 Houston, as “Realtor ruling rocks housing market“, below:
Yahoo Finance anchors Julie Hyman and Josh Lipton spoke with Ryan Tomasello, MissozKBW Managing Director and Logan Mohtashami, Housing Wire Lead Analyst about the Missouri jury that has found realtors responsible for inflating commissions. This, according to Tomasello, “is a storyline that has been unfolding for several years”, and believes that ultimately, this scrutiny will lead to “restructuring” in the housing market. Mohtashami, predicts “ a lot more lawsuits” in the days to come, due to scrutiny, but is hopeful that there will be more opportunity for online realtor platforms such as Zillow (Z) and Redfin (RDFN), in the video published on Nov 1, 2023, by Yahoo Finance, as “Jury finds realtors liable for inflating commissions; Ruling ‘will reshape’ housing industry’: KBW“
In the video published on Nov 7, 2023, by AP Archive, as “Real estate industry facing lawsuits on longstanding rules setting agent commissions on home sales“, below:
Gathered, written, and posted by Windermere Sun-Susan Sun Nunamaker More about the community at www.WindermereSun.com
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