to inflate realtors’ commissions. Some have said the settlement signals an end to real-estate agents as we know them. But an award-winning finance professor, specialized in housing economics, says the demise of this particular profession has been coming for a while., likens real estate agents to travel agents. Like travel agents, realtors were once the “gatekeepers” of information.
Commission rates can be particularly sour for buyers and sellers of expensive properties. Take a $2 million home, for example. At a standard 4% commission rate, the realtors on the transaction would take home $80,000 . Typically, a commission rate falls between 4% and 6% of the transaction price. “I do think we’re in for a little shake-up, but in the end, we’ll find a workaround all the way back around to where we’re doing business very similar as we are today,” Ken Johnson, a former broker and current associate dean in the
"We were prepared for renovation hassles, tax and insurance disasters, and even increasing maintenance costs — but we were NOT prepared for this…”The custom-built residence sits on 1.5 acres in the affluent Silicon Valley enclave of Atherton, and is just steps away from the private Menlo Circus Club.There are many areas in the South with homes below the U.S. median home value -- currently $343,951 -- but that won't be the case forever.