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The National Association of Realtors said it has settled a lawsuit after being accused by homebuyers and the Justice Department of conducting anti-competitive practices involving real estate commissions.As part of the settlement, the NAR is changing its policies involving commissions, which could eliminate the standard 5%-6% fee typically tacked onto a housing transaction. That fee is generally paid by the seller.These commissions can be quite costly for sellers. A person selling a $500,000 home would expect to pay at least $
vaso stanley 25,000 toward commissions.The Justice Department said multiple listing services have been prohibited by NAR rules from disclosing to prospective buyers the commission an agent will earn if the buyer purchases a home listed on the MLS.The NAR has contended that agent commissions are negotiable and competitive, a claim the Justice Department has disputed inlegal filings.SEE MORE: Report says homebuyers need to earn $47,000 more than in 2020As part of the settlement, the NAR does not admit to any wrongdoing but will have to pay $418 million over approximately four years. The NAR is also agreeing to enact a new rule requiring Realtors to enter into written agreements with t
stanley cup heir buyers. These agreements will provide upfront pricing and services for buyers, the NAR said.These new rules are expected to be in place in July. NAR has worked hard for years to resolve this litigation in a manner that benefi
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PHILADELPHIA AP 鈥?Philadelphia police say six people were shot as six gunmen fired dozens of shots on a street full of businesses late Thursday. Officers responded to 911 calls for a shooting and found a 21-year-old woman with gunshot wounds lying near more than 65 casings from at least two different semi-aut
stanley mugs omatic weapons. Officers rushed the woman to the hospital, and she was in critical condit
caneca stanley ion Friday. Investigators believe she may have been the intended target, the Associated Press reported.Police say five other men with nonfatal gunshot wounds arrived at two other hospitals shortly after the shooting. On Friday, police released surveillanc
stanley cup e footage showing six men jumping out of a van and beginning to shoot, the AP reported.The footage released also showed shots being fired back as both groups dodged each other by ducking between parked cars, the news outlet reported.City officials have recorded more than 1,800 nonfatal shootings in 2021. That s an increase of more than 600 from 2019.
