HomeServices of America owns Allie Beth Allman & Associates and Ebby Halliday’s three real estate brands
FILE - A "for sale" sign stands in front of a house in Pennsylvania, near Philadelphia, on June 8, 2018. A Pennsylvania mortgage company owned by billionaire businessman Warren Buffett discriminated against potential Black and Latino homebuyers in Philadelphia, New Jersey and Delaware, the Department of Justice said Wednesday, July 27, 2022, in what they are calling the second-largest redlining settlement in history.
Lawsuits against NAR alleged the requirement to post an offer on the MLS reduced competition. The old rules gave buyer’s agents an incentive to steer clients away from properties where their offered commission was lower, they alleged. The NAR will no longer require a broker advertising a home on the Multiple Listing Service to list or offer any upfront compensation to a buyer’s agent. Offers of compensation can be made outside of the MLS platform, but the seller’s broker must disclose the arrangement.The move could slash fees paid to real estate agents and save consumers $20 billion to $30 billion annually, according to estimates from the Consumer Federation of America.