NYC broker fee law — which protects tenants from costs — challenged by real estate agents in 11th-hour push

NYC broker fee law — which protects tenants from costs — challenged by real estate agents in 11th-hour push

New York City's real estate industry is making an 11th-hour bid to halt new broker fee ban before it takes effect next month.

Homebuyers and sellers say agents' cuts are too big. Flat-fee...

For a long time, buying and selling a home in the U.S. generally went like this: The seller would pay a commission that would be split by the buyer's and seller's agents, often totaling 5% to 6% of the sales price. The predictability of that structure came at a cost: big fees to the agents on every transaction. At a time of high home prices, agent fees can add up to tens of thousands of dollars on just one sale. For people like Jim Xiao, that …