Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Janet Moore.

Is the 6 percent real estate commission dead?

Posted by: Jim Buchta under Buying, Foreclosures Updated: January 31, 2011 - 12:07 PM

 

What caught my eye over the weekend:

A New York Times story over the weekend examines the testy commission issue with a story that looks at the proliferation of do-less for-less real estate agencies that are popping up around the New York area. Though regionally focused, the story raises some interesting - and highly controversial - questions about real estate in an increasingly do-it-yourself digital world.

The NYT also has a consumer-friendly story about how to take advantage of new disclosure rules to help reduce closing costs.

The Wall Street Journal is out with its quarterly national home price index, which is compiled using data from several sources, including the Minneapolis Area Association of Realtors. The report says that values are falling at an accelerating rate, and have declined in all of the 28 major metropolitan areas tracked. It says that the size of the year-to-year price declines was greater than the previous quarter's in all but three of the markets, the latest indication that the housing market faces considerable challenges. In the Twin Cities metro area prices are down more than 11 percent from a year ago.

And don't miss a WSJ story about a trend that stands to redefine the real estate industry - and frustrate renters: Surging demand for apartments.

 

 

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