The ongoing issue of high real estate commissions, despite a settlement aiming to change the way agents are paid, highlights the frustrations many buyers and sellers face. The landmark settlement refers to a case where the National Association of Realtors (NAR) and major real estate firms agreed to change practices around commission structures. However, many people still feel that the expected commission rates are excessive, and there's a perception that the industry is slow to adopt these changes.
Some buyers and sellers argue that they are forced to pay hefty commissions that can reach 5-6% of the sale price, even though they believe that lower fees could be possible, especially with the rise of alternative real estate services and digital platforms. The challenge is the inertia in the industry and the influence traditional real estate agents and agencies still hold in shaping market norms.
Do you know the primary differences between a fixed and adjustable rate mortgage? When interest rates are on the rise an adjustable rate becomes far more popular.
While interest rates tend to be lower with an adjustable mortgage, they can move up quickly when the adjustment period comes up.
See everything you need to know including the pros and cons about these mortgages at Active Rain.