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Perhaps some of us who used an agent to help us find a house, and then stumbled upon a property we liked and viewed it without him or her, have asked ourselves, “So why do they get the commission? I found this place!” We grumble, but in the end, we don’t stiff the agent — they get their commission.
Well, none other than Jerry Seinfeld tried to stiff his agent. And a judge just ruled that Seinfeld does have to pay the commission, to the tune of $98,000 (and maybe a little more). Read it here in this story from the Originator Times…
BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.