upwards of 6% ?
What does that mean? 6% has been standard as long as I remember, but you can get 5%. When I probated and sold my brothers buildings and house, the State mandates 5% commission.
I worked with a smart agent, who was also a broker, that only took 2.5%. Buying agents hated working with him because they were getting less than half they would get from other listing agents. Buying agents would often try to get their clients to steer away from his listings even if the homes met the buyer’s needs. Complete BS.
that 6% was the “standard” was EXACTLY the issue! That is collusion.
That’s the point of the lawsuit ie, “standard” commissions.
To tell a client 6% is the “standard” commission is a violation of anti-trust law. Realtors are (typically) taught to never say a commission is the standard, or usual. They are taught to say “6% is what my firm charges and I cant speak for other firms” and to leave it at that.
(Yes, I know what I am talking about).
6% has been standard as long as I remember
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Prove it. Yes, in some markets some institutions ONCE touted 6% as “standard”. About 30 years that practice was eliminated, sometimes by law, but always by professional standards.