10-28-2005, 05:07 PM
| | Real Estate Commission Rates - Why still 6%?
Why hasn't the Internet age ushered in lower real-estate costs?
In other countries, commission rates are about 1.5 percentage points lower, according to the American Homeowners Grassroots Alliance. In the United Kingdom, says University of California professor of economics Chang-Tai Hsieh, commissions average just 2 percent.
Brokers, the National Association of Realtors, and many critics came together in Washington on Tuesday to discuss industry competition and address why the 6 percent commission has proved so durable.
The Federal Trade Commission and the Department of Justice antitrust division, which have spearheaded an assault on NAR practices that they consider against consumers' interests, organized the conference.
Read More: http://money.cnn.com/2005/10/26/rea...waste/index.htm