NAR agrees to change rules on agent commissions
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 15 March 2024
⏱️ 1 minutes
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Summary
Stocks fall; rule change will affect real estate agent commissions; import price inflation slows in February; consumer sentiment unchanged.
Transcript
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| 0:00.0 | This is the Marketplace Minute. I'm Justin Ho. Stocks closed down on Friday. The Dow |
| 0:07.8 | fell half a percent, the S&P lost two-thirds percent, and the NASDAQ dropped |
| 0:12.4 | almost 1 percent. |
| 0:14.4 | The National Association of Realtors has agreed to remove its rules on the commissions agents |
| 0:18.8 | receive when someone buys a home. |
| 0:21.4 | Current rules require selling agents to share commissions with agents representing |
| 0:25.0 | home buyers. Now that requirement will be dropped. Consumer advocates say the change will |
| 0:30.3 | let buyers negotiate commissions, and that could lead to lower commissions |
| 0:34.4 | overall for buyers and sellers agents. The price of imported goods rose |
| 0:39.2 | three-tenths percent in February according to the Labor Department that's a slower pace than in January. |
| 0:45.2 | And consumers surveyed by the University of Michigan this month were about as optimistic |
| 0:48.8 | about the economy as they were in February. |
| 0:51.3 | Overall, optimism has improved a lot over the last 12 months. I'm Justin Ho with the marketplace |
| 0:57.3 | minute. You're going to. |
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