Timely Contract® - Real Property, Real Solutions® - logo

Real Estate Transaction Fees: Important Court Decision

Real Estate Transaction Fees: Important Court Decision

A guilty verdict was handed down by a federal jury on October 31, 2023 that threatens to upend the cozy financial relationships enjoyed by agents representing Buyers and Sellers during the real estate transaction. In the antitrust suit, the jury held the National Association of Realtors and large residential brokerages liable for $1.8 billion for conspiring to keep real estate commissions artificially high. The verdict will be appealed, so stay tuned!

Real Estate Transaction Fees

Under the terms of the verdict, Seller’s agents will no longer be able to offer a commission split to Buyer’s agents upfront in exchange for access to online listing venues. If the verdict stands, the $100 billion in real estate commissions presently paid annually to Buyer’s and Seller’s agents will be subject to competitive market pressures.

The Evolving Role of Buyer’s Agent

The role of Buyer’s agent was the focus of the lawsuit. Under new arrangements anticipated by this court’s verdict, the role of Buyer’s agent will be subject to negotiated fees and services. It’s anticipated that many Buyers will forgo the services of a Buyer’s agent altogether!

Role of TC Certified Attorney

In a competitive environment, real estate attorneys are likely to play an increasing role as Buyer’s representatives during the real estate transaction. The suite of Timely Contract legal solutions gives Buyers the opportunity to negotiate that Sellers pay for any Timely Contract solution that results in a closed escrow.

Real Estate Transaction Fees in Focus

The purchase or sale of real estate is complicated. With so much on the line, it’s better to be safe than sorry!

  • TC Review: Contract review of documents to which you are committed.
  • TC Drafting: Custom document drafting for a document as unique as your real estate transaction.
  • TIER®: Basic legal due diligence regarding exceptions to title insurance.
  • TIER Plus®: Customized legal due diligence regarding risks of federal, State, Tribal, or local rules, regulations, and laws.
    Use Timely Contract® to avoid common problems of the real estate transaction … and sleep better at night!
    This posting is not legal advice. Legal advice is based on specific facts. This information is necessarily general in nature.

Recent Posts

Real Estate Agents and Timely Contract®

As an experienced real estate agent, you may never imagine that an attorney could be useful to your practice: they take too long, address problems no one cares about, and cost too much. Attorneys traditionally have carried unlimited legal liability during the...

Pre-Existing Code Violations and TIER Plus®

You’ve done your legal due diligence and checked the public document record at the County Recorder’s Office where you’re thinking of buying that vacation home. You found some interesting circumstances of the property you didn’t expect, including existing code...

Historic District Designation and TIER Plus®

Are you thinking of buying a centrally located, older home in a downtown neighborhood? After many remodels, you may know how to bring the building up-to-code and sell at a profit. Or perhaps you’re a hobbyist with intentions to live the downtown, walkable lifestyle....

Pennies on the Dollar

Buying a home is a time of change, hope, and stress. Change because your living habits are being upended, hope for a better future, and stress because you’re involved in one of the biggest, most complex financial transactions of your life. One way to reduce the stress...

Buying Unimproved Land

You’ve toiled for years, sold the family home, and are on the hunt for land to build that dream home. The risks to buying unimproved land are seldom appreciated by the uninitiated. Power, water, drainage, septic, and land use rights and restrictions all come into...

Types of Real Estate Contracts

There are many types of RE contracts available to buyers and sellers. We’ve compiled the Top 40 for your review!

Real Estate Glossary

From A to Z, we’ve compiled over 310 real estate terms!
Skip to content