Your inside source for real estate, development and construction information serving the counties of Mecklenburg, Union & Iredell VOLUME 108 NUMBER 3 ■ MECKTIMES.COM
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TUESDAY, JANUARY 16, 2024
Gender Gap Narrows for Living Wage Jobs, Reports Ludwig Institute Page 2
Construction spending rises 0.4 percent in November Page 3
Navigate Partners with McCarthy Capital to Accelerate Future Growth Page 4
MARGENAU: Social Security update for 2024 Page 5
GOLDMAN: Make Your No. 1 Resolution at Work No Resolutions at Work Page 6
Top Alternative Investment Trends to Watch for in 2024 Page 7
Clever Real Estate Finds 42% of Home Sellers Don’t Know They Are Expected to Pay the Buyer’s Agent Commission in Light of Recent NAR Lawsuit Clever Real Estate has released a report on commission rates following the recent landmark case involving the National Association of Realtors (NAR). Since 2017, Clever has negotiated real estate commissions with top-producing agents nationwide for over 20,000 home sellers and has conducted numerous surveys and studies over the years highlighting Americans’ views on commission rates. In surveys of 1,000 Americans, Clever found that 66% of non-homeowners — and 42% of home sellers — don’t know they are expected to pay the buyer’s agent commission. This misunderstanding could be why 65% of Americans wrongly think buyers can save money by not working with an agent. 55% of sellers say they shouldn’t be obligated to pay the buyer’s agent’s
commission. However, fewer than half of sellers (46%) know how much they’ll end up paying in commissions, and 34% actually overestimate the cost of commissions. Almost all homeowners (91%) consider avoiding high realtor commission rates an important priority when selling, with 28% of sellers choosing to forgo an agent to save on fees. However, 72% of sellers who worked with an agent believe a good agent is worth every penny of their commission. In a recent Clever survey of 625 agents across the country, the average total commission rate was 5.49%, and 61% of agents say their commission rates have not changed over the last 5 years. “Clever has negotiated more commissions with realtors than any
other person or organization in the U.S.,” Clever Co-Founder and CEO Luke Babich said. “With recent headlines following the decision in the lawsuit against the NAR, Clever remains committed to helping buyers and sellers receive the best service with the lowest rates and continuing to position ourselves as a thought leader on the topic of commissions.” Amid the rapidly changing real estate landscape, Clever has saved customers more than $140 million on realtor fees, with an average 5.0-star rating based on 2,600+ verified customer reviews on Trustpilot. As the industry continues to shift, Clever remains at the forefront, providing unparalleled expertise amid ongoing conversations about Realtor commission rates. Staff report
“From the survey, it’s clear that employees are crying out for advanced AI-powered experiences to help get tasks done quickly, efficiently and accurately.” Raj Koneru, Kore.ai.
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