Aug. 16—The recent demolition of a $24 million historic home by Astros owner Jim Crane renewed discussion about the preservation of the iconic River Oaks neighborhood. Since its founding in
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Listen: Meet the brokerage that taped those calls and takes credit for starting a DOJ suit
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The commission a buyer s agent earns is in the spotlight.
A number of suits have criticized the way the commissions are set up, alleging the arrangement has an upward pressure on prices. While buyers agents have a fiduciary responsibility to the homebuyer, their commissions are largely set by the homeseller before the property is listed on an agent-to-agent database known as the multiple listing service.
Despite being paid by the seller, buyers agents are required to work in the homebuyers best interest which means they should not steer buyers to one house or another just because of how much they ll be paid. However, phone calls recorded by the brokerage Rex seem to show real estate agents doing just that.