BrokerageIndustry News

Real estate fees raise RESPA controversy

Part II: Broker fees divide industry
Published on May 28, 2009

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If some consumers and real estate agents aren't happy about the flat fees many brokerages are slapping on top of their traditional percentage-based commissions (see Part I), there are also unresolved questions about the legality of the practice.

A recent ruling allowing a class-action lawsuit to proceed against an Alabama-based brokerage has captured the attention of other companies that could face similar claims that they are violating the Real Estate Settlement Procedures Act, or RESPA.

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