Author: mcgillteam

Real Estate Commissions Rise Post-NAR Settlement: What It Means for Buyers and Sellers

In August 2024, the National Association of Realtors (NAR) finalized a landmark $418 million settlement, prompting widespread expectations of lower real estate commissions due to increased competition and transparency. However, recent data reveals a surprising trend: instead of declining, commissions have slightly increased. This development challenges initial predictions and raises questions about the settlement’s impact […]

The Rise of 1% Flat Fee Real Estate Brokers: A Fairer Approach to Home Sales

The real estate industry has long relied on traditional commission-based models, where agents charge 5-6% of a home’s sale price, split between the buyer’s and seller’s agents. For a $500,000 home, that’s $25,000-$30,000 in fees, eating into a homeowner’s equity. Enter 1% flat fee real estate brokers—a new breed of professionals challenging this outdated system […]