Despite plenty of attempts to disrupt the homebuying market in the last five or 10 years, real estate agents have remained deeply entrenched in the process. Well, for now. A recent ruling in a Missouri court found the National Association of Realtors and several brokerages guilty of conspiring to keep commissions artificially high. While the ruling’s impact is still far from clear, it could lead to lower fees and more transparency about property listings.

News of the ruling was cheered by many consumers fed up with what they view as the industry’s arcane and confusing practices. But the court ruling will do nothing to address what I view as the true outrage of the US real estate sector: enormous broker’s fees that renters are forced to pay in New York City to secure an apartment.

QOSHE - NYC Rents Are Outrageous. And That’s Before the Broker’s Fee. - Erin Lowry
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NYC Rents Are Outrageous. And That’s Before the Broker’s Fee.

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10.11.2023

Despite plenty of attempts to disrupt the homebuying market in the last five or 10 years, real estate agents have remained deeply entrenched in the process. Well, for now. A recent ruling in a........

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