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...The settlement should also cut down on buyers’ agents who unscrupulously steer clients to homes that carry higher commissions....
...The difference between the percentage of estate agents reporting a rise in buyer interest versus those recording a drop climbed to 8 points, double the reading of the previous month and the highest reading...
...The number of days it took to find a buyer rose from 37 in 2022 to 59, and agents and developers spent more on Rightmove upgrades....
...sellers to pay the commissions for a buyer’s agent....
...home sellers to pay the commissions for a buyer’s agent....
...the uplift in new instructions to agents....
...But rising interest rates have increased the cost of borrowing for both French and foreign buyers, reducing the number of sales....
...The standard commission, 5 to 6 per cent of the purchase price, is split between the seller’s agent and the buyer’s agent. It is one of the world’s highest. But a long overdue shakeout is looming....
...Fees at Sotheby’s are then split 50-50 between the agent who brings the buyer, and the one who won the listing....
...Rightmove said the number of days it took to find a buyer rose from 37 in 2022 to 59, and agents and developers spent more on marketing and other services....
...London estate agent Foxtons said 2023 revenues and profits will beat expectations and predicted strong growth in 2024 as mortgage rates begin to fall....
...It also reported a 7 per cent annual increase in buyer demand....
...In January, the estate agent put it back on the market and David, who did not want to give his full name, decided to go ahead — as did another buyer....
...“Buyer demand has grown as mortgage rates have begun to normalise,” the company said in a trading update....
...Starting in July, listing services will no longer disclose commissions under the terms of the NAR settlement, making it easier for buyers and sellers to hire agents for reduced services and fees, or forgo...
...buyers who needed to get on with life....
...What’s more, around 50 per cent of rural homes are sold off market, says Charlie Hill of agent Charles Marlow....
...Agents also report buyers being pickier about the non-financial side of deals, such as planning permission and lease discrepancies....
...But starting in July, the listing services will no longer disclose commissions, opening the door for buyers and sellers to hire agents for reduced services or forgo them altogether....
...of London Central Portfolio, a buying agent....
...Agents and buyers report a new willingness this year on the part of sellers to strike a deal....
...Since the pandemic, estate agents have seen increasing demand from buyers “who want to live in Cannes permanently, for retirement or to bring up their families here and work at a distance,” says Harald Starke...
...The verdict on Tuesday against the National Association of Realtors, which represents 1.5mn agents, and market leaders including several Berkshire Hathaway subsidiaries and Keller Williams Realty, came at...
...In 2022 a five-bedroom 3,200 sq ft house on at £2.95mn went for £3.29mn to London buyers — whereas inland, buyers can find a fisherman’s cottage for about £500,000....
...And these buyers have been out in force recently....
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