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Be Wealthy & Smart

How the RE Commission Settlement Impacts You

Be Wealthy & Smart

Linda P. Jones

News, Business News, Investing, Business

4.8883 Ratings

🗓️ 18 March 2024

⏱️ 9 minutes

🧾️ Download transcript

Summary

Discover how the real estate commission settlement impacts you.

Are you on track for financial freedom...or not?

Financial freedom is a combination of money, compounding and time (my McT Formula). How well you invest can make the biggest difference to your financial freedom and lifestyle.

If you invested well for the long-term, what a difference it would make because the difference between investing $100k and earning 5 percent or 10 percent on your money over 30 years, is the difference between it growing to $432,194 or $1,744,940, an increase of over $1.3 million dollars.

Your compounding rate, and how well you invest, matters! 

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Be Wealthy & Smart,™ is a personal finance show with self-made millionaire Linda P. Jones, America's Wealth Mentor.™ Learn simple steps that make a big difference to your financial freedom. 

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Transcript

Click on a timestamp to play from that location

0:00.0

Be wealthy and smart, episode 1325. If y'all know what I mean put your hands up and declare with me

0:14.0

Yeah, I'm full of time I'm gonna live a good life

0:21.0

I'm gonna live the good life

0:22.0

beautiful and glorious life Step into a world of wealth and wealth and financial freedom without budgets, boredom or bosses on, bey and Smart. And now here's your host, Linda P. Jones.

0:38.7

Welcome to Be Wealthy and Smart. I'm Linda P. Jones, America's Wild Mentor, Empowering Women and Men Worldwide to Financial Freedom.

0:45.0

On today's show, we're going to talk about how the Real Estate Commission settlement impacts you.

0:51.0

Because this has been an ongoing lawsuit with the National Association of Realtors,

0:56.4

and there was a big legal settlement that could shrink Realtor Commissions.

1:01.4

So what I'd like to do is read to you this article from USA Today

1:05.4

because it gives all the facts of the lawsuit and I think it's better to just

1:09.9

read what they said happened in the lawsuit rather than try and paraphrase it or talk

1:14.6

about it casually.

1:15.9

So it says, Realtor Commission fees consumers pay to buy and sell a house could soon change.

1:22.3

The National Association of Realtors, embroiled in legal battles

1:25.7

over the real estate industry's commission structure, has reached a settlement that could dramatically

1:31.1

slash the fees paid to agents.

1:34.0

NAR said Friday that the settlement would lead to it put in place a new multiple listing

1:40.3

service rule which would prohibit offers of broker compensation.

1:45.4

The association's rules do not set commission rates, NARS said, which are negotiated between consumers

1:52.0

and their agents.

1:53.4

However, the real estate industry has long worked under a model of a 5% to 6% commission paid by the

2:00.4

seller and split between the seller's agent and the buyer's agent.

...

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