Lawsuit could cut cost of homebuying, shake up industry – Houston Chronicle

Lawsuit could cut cost of homebuying, shake up industry  Houston Chronicle

For the average Houston home, priced at 0,700, real estate agent commissions cost ,600. If the same deal had closed in London, the homeseller would have only paid agents about ,700. The reasons for the difference are at the center of a class-action suit that could fundamentally change the way real estate sales are handled in the United States. If the case, brought by a Minnesota homeowner seeking to strike down the standard practice of agents splitting commissions, is successful it could pave the way for the end of traditional real estate brokerages. If defeated or dismissed, as the…

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