Realtors are capped in the percentage they can take for selling properties. Brokers and financial advisers are capped in their fees. My presumption is that the only reason this very standard and reasonable regulatory pattern doesn’t affect lawyers is because they tend to be the ones writing and enforcing the regulations in the first place.

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ryan_lane 2 hours ago | parent [-]

There is no legal maximum for the percentage real estate agents can take, in the US. Rates are also not fixed, by law, and are required to be negotiable. There's a general standard for rates (typically 5-6%, split between agents/brokers), but there's nothing stopping them from setting it to 99%, other than the fact that people won't pay it.

Source: was a licensed real estate agent for a long time.

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Fantosism 2 hours ago | parent [-]

I might be misremembering, as I worked on the loan side, but wasn't the 6% standard set by the state's realtor association until 2024?

	▲	lotsofpulp 2 hours ago \| parent [-]
		No. "Realtor" is a trademarked term for a member of the National Association of Realtors. Real estate agents are licensed by state governments, but prices for real estate agents are not legislated by state governments. If this is the 2024 settlement that you are referring to, it did not say anything about the price a Realtor can charge: https://en.wikipedia.org/wiki/Burnett_v._National_Associatio... >The cooperative compensation rule has been eliminated as a result of the settlement. Seller's agents are no longer required to offer compensation to buyer's agents when listing a home for sale on a Realtor-owned multiple listing service. In addition, Realtors acting as buyer's agents must enter into contracts with buyers before touring any homes, allowing buyers to negotiate how much they will pay their buyer's agent.