Sellers could benefit from NAR settlement, Redfin CEO says [FOX Business Network]
Redfin Corporation (RDFN)
Last redfin corporation earnings: 2/12 04:01 pm
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Source: FOX Business Network
However, sellers may soon see potential benefits from the landmark settlement from America's largest real estate trade association. This could allow sellers to keep a greater portion of their home equity , Redfin CEO Glenn Kelman told FOX Business. The National Association of Realtors (NAR), agreed to drop its policy on broker commissions last week as part of its settlement against a series of lawsuits brought on behalf of home sellers centered on this fee. Some lawsuits claimed the NAR rules on broker compensation "violate antitrust laws and inflate the fees paid to buyer's agents by requiring a listing agent to compensate a buyer's agent for listing a property on the MLS." Kelman agreed that there is "a real case to be made that consumers deserve a better deal, but the primary beneficiary will not be the buyer. It will be the seller. They will keep more of their hard-earned home equity." The group, which hasn't admitted any wrongdoing, will pay $418 million over four years
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RDFN
Earnings
- 2/27/24 - Beat
RDFN
Sec Filings
- 4/26/24 - Form 3
- 4/25/24 - Form ARS
- 4/25/24 - Form DEFA14A
- RDFN's page on the SEC website