BrokerageIndustry News

N.Y. Realtor group cautions members on rate setting

Legal advisory notes rising use of variable commissions
Published on Nov 17, 2005

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In a legal advisory this month, the New York State Association of Realtors told its members that there is an apparent rise in the offer of variable payments to cooperating brokers in real estate transactions, and there is a potential for antitrust violations related to the discussion of these practices.

Listing brokers are in some cases notifying other brokers that they will pay them a different amount of compensation than the level advertised in the local multiple listing service for bringing a buyer to the real estate transaction, according to the advisory.

Anthony Gatto, ...