If you’ve ever sold a home and hired a real estate broker you likely paid a six percent (6%) real estate commission. Commissions aren’t fixed, as that’s illegal; but the “6% commission” has stood the test of time since the regulation of real estate brokerages, beginning in the early 1900s.

The multiple listing service (MLS), regulated by associations of Realtors®, is the only marketplace where real estate brokers buy and sell properties. Through the MLS, listing brokers offer a commission to cooperating brokers to bring a buyer, and the commission is typically split 50/50...."          Read full article