This week, a Missouri federal judge denied a motion by the National Association of Realtors, HomeServices of America, RE/MAX and Keller Williams to compel arbitration in a class action lawsuit on behalf of hundreds of thousands of people who have sold their homes.
At issue is an NAR policy that the seller’s agent of a home must split their commission equally with a buyer agent. The rule has been around since 1913, and, according to the consumers and their lawyers who filed the lawsuit (the lead named plaintiffs are homebuyers Rhonda and Scott Burnett), it has artificially inflated real estate commissions to 5-6% total of the home sale price.
Local real estate developer constructs ‘micro homes’ as solution for housing crisis in South Fulton - His development of the micro homes is the “different way.” The one- and two-bedroom micro homes are between 350 and 600 square feet. There are 29 units and they all sold out within two months of their launch at a price point between $200,000 to $230,000.
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