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      "text": "Commissions tend to compress when free market forces are allowed to work. Analysis from a professor at the University of San Diego found that in the years after a 2008 ruling against the NAR which forced them to treat internet-based brokers the same as traditional brokerages, commissions compressed by 50% in the UK, 60% in Sweden, 33% in Denmark, and 17% in the U.S. We believe commission compression was more muted in the U.S. due to the NAR commission cooperation rules. Now, those rules are at risk. If the rules were eliminated, we would expect commissions to compress to levels seen in other developed economies.",
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      "text": "That exclusivity was because agents posted properties in local Multiple Listings Services that were (and are) operated by NAR chapters. Agents shared these listings sheets with fellow dues-paying NAR members. So valued was this information-gatekeeping that when the Internet rolled around NAR allegedly withheld listings from members that they worried might post them online for viewing by the general public. The U.S. Justice Department filed a lawsuit against the NAR, and a 2008 settlement barred withholdings. \"Delivering listings via the Internet enables customers to control their search process and educate themselves about the real estate market in their area on their schedule,\" the settlement stated. The legal action helped Zillow and other listing aggregators bloom. And it may have indirectly reduced commissions in other countries. Miller, now a professor at the University of San Diego, revisited his work on commission rates this year. He found that in the intervening years commissions in the United Kingdom dropped from 3% to 1.5% of the home's total price. Commissions in Denmark fell from 3% to 2%, and rates in Sweden plunged from 5% to 2%. In the U.S., commissions fell from about 6% to a little over 5% Miller found.",
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      "text": "Source: “The 100-years-war over real estate commissions”, Housingwire article",
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