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Real estate commissions, unassailable for decades, could crumble after landmark settlement

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Real estate commissions, unassailable for decades, could crumble after landmark settlement


The National Association of Realtors announced Friday that it had reached a legal settlement that upends the traditional model of sellers paying for the buyer’s agent in a home purchase. The agreement has the potential to save home sellers billions of dollars every year, but could also complicate purchases for buyers.

The NAR, the largest trade group representing residential real estate agents, agreed to pay $418 million over four years to settle claims that the group and its members engaged in uncompetitive practices that forced sellers to compensate agents who brought buyers to the closing table.

“There are valid positions on both sides, and this is the way the game has been played,” said Mark Lee Levine, a professor at the Burns School of Real Estate and Construction Management at the University of Denver who has tracked the issue closely.

Starting in July, the game will be played differently. Buyers can no longer count on sellers paying the agents representing them, Levine said. On a $600,000 home, that could shift around $15,000 to $18,000 in typical commission costs back to the buyer.

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Commissions on a home sale are, in theory, completely negotiable, but they typically run in the 5% to 6% range.  How commissions get split can vary, but sellers almost always pay the buyer’s agent via what is known as a cooperative compensation model or co-op.

What a seller was willing to pay was communicated on the multiple-listing service or MLS controlled by local Realtor associations. If the compensation was too low or non-existent, buyer agents would pass on showing a home, plaintiffs in a case known as Sitzer-Burnett argued.

Listing the buyer agent compensation is now prohibited as part of the settlement. States must require buyers and their agents to enter into written agreements detailing compensation and what services are provided for it, something Colorado already requires.

Buyers still have the right to push for a lower commission, as was the case before. But if they know they are footing the bill, they may be much more motivated to do so.

“For far too long, home sellers have faced a system recognized by many as blatantly unfair. Individual sellers often feel powerless to negotiate a better deal for themselves given the risk that offering lower commissions will cause brokers to steer buyers to other properties,” Robert Braun, a partner in Cohen Milstein’s Antitrust practice, and one of the attorneys that led the case against NAR said in a statement.

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Technology has lowered or eliminated commissions across wide parts of the economy, from stock brokerages to travel agencies. But they largely remained unassailable in real estate until a jury ruled against the industry last year. A series of settlements have followed that ruling.

Friday’s settlement resolves claims against NAR and its more than 1 million members, and against regional and local Realtor associations, including the Colorado Association of Realtors and the Denver Metro Association of Realtors. The settlement also shields brokerages run by a NAR member that did $2 billion or less in transactions in 2022 in the case, sparing them the cost of extensive litigation.

“We are pleased we have a solid path forward. We know how to move forward now. We are looking forward to going back and selling,” said Libby Levinson-Katz, head of DMAR’s Market Trends Committee.

Although the heavy weight of litigation in the Sitzer case has been lifted, what comes next is uncertain.

Will sellers and buyers, aided by cost-saving technology, push to lower some of the highest real estate transaction costs in the developed world? Will the real estate brokerage industry, already struggling from higher interest rates, suffer another steep drop in revenues, forcing tens of thousands of agents out of the field? Will buyers get a break via lower home prices to cover their added costs, or will sellers pocket the savings, leaving buyers in the lurch?

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“NAR has worked hard for years to resolve this litigation in a manner that benefits our members and American consumers. It has always been our goal to preserve consumer choice and protect our members to the greatest extent possible. This settlement achieves both of those goals,” said Nykia Wright, NAR’s interim CEO in a release.

One by one large brokerage firms have settled in the case, the most recent being Keller Williams, which reached a $70 million agreement in February. HomeServices of America, whose brands include Berkshire Hathaway HomeServices and Kentwood Real Estate, remains a holdout.

Listing agents and buyer agents can still communicate directly about commissions and sellers can still pick up those costs. Sellers might do that if they think it will generate more interest in their listings or set them apart. But not every seller will agree, and a buyer may be set on owning that house.

That is where things get more complicated. The agreement a buyer has signed with the agent will then leave the bill for services rendered on the buyer’s table. Buyers, already stretched to come up with down payments and escrow costs, not to mention elevated home prices, may lack the funds, killing a deal. Or their agents might agree to take a smaller cut.

“We shouldn’t have been fighting over the commissions. We should have been fighting to serve our customers better,” said Bret Weinstein, founder of Guide Realty in Glendale.

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Weinstein said becoming a real estate agent comes with a low bar of entry. Most who get in do a minimal number of transactions, if any, in a given year. And horror tales abound of unaware consumers in the hands of unskilled agents.

“It will shake up the industry,” he said of the changes coming. “One day there will be an exodus of people leaving.”

Buyer agents who remain will pursue different models, he predicted. One camp will offer high-level service from skilled negotiators who can justify their costs. That is one reason top-performing agents aren’t fearful of what comes next, he said.

At the other end will be agents offering a lower level of services in return for discounted commissions. Expect more technology firms to emerge that will try to automate the buying process or lower costs in other ways.

Levine offers another scenario, one where consumers continue to do the legwork in researching neighborhoods and finding a place through online resources. They negotiate terms or hire someone to do that. Then a real estate lawyer is brought in to handle the contract and closing. The costs would be lower and the approach might appeal to repeat buyers.

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“As of July that co-op is going away. There is no guarantee that a buyer’s agent will get paid,” Weinstein said.

It will be a brave new word for consumers and the real estate industry alike.



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Denver, CO

Our dumpling challenge boils down to eight Denver metro restaurants

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Our dumpling challenge boils down to eight Denver metro restaurants


Like sand through the hourglass, so too go the dumplings of the Denver Post’s annual food bracket.

Our competition started with 32 restaurants chosen by editors and readers specializing in dumplings and momos, a Tibetan and Nepali variation, in the Denver area. Two weeks later, only eight restaurants remain.

The next round of matchups in our Elite 8 competition to be decided by reader votes are:

Rocky Mountain Momo (9678 E. Arapahoe Road, Englewood) vs. ChoLon (multiple locations)

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LingLon Dumpling House (2456 S. Colorado Blvd., Denver) vs. Star Kitchen (2917 W. Mississippi Ave., Denver)

Nana’s Dim Sum & Dumplings (multiple locations) vs. Dillon’s Dumpling House (3571 S. Tower Road, Unit G, Aurora)

Hop Alley (3500 Larimer St., Denver) vs. Momo Dumplings (caterer; momo-dumplings.com)

The most recent matchups recorded more than 460 entries. Our most popular head-to-head was Rocky Mountain Momo facing off against Yuan Wonton. Rocky Mountain Momo advances with 55% of 260 votes.

MAKfam, a Chinese restaurant with a Michelin nod for its value, faced a tough first-round opponent, The Empress Seafood, and scraped out a win. But this time, it wasn’t as lucky, losing to ChoLon, an upscale Asian fusion restaurant with multiple locations, by only five votes.

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Make your picks below for who should advance to the next round. The online voting form will close at 11:59 p.m. on Sunday, March 15.

Subscribe to our new food newsletter, Stuffed, to get Denver food and drink news sent straight to your inbox.

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The Broncos haven’t chased a WR for Bo Nix in NFL free agency. Here’s why.

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The Broncos haven’t chased a WR for Bo Nix in NFL free agency. Here’s why.


Two hours after the deadline swept past the Broncos’ building in Dove Valley, their then-22-year-old receiver at the center of the fanbase’s buzz sat at his locker, coolly pulling on his gear. Nobody was coming for Troy Franklin’s job, it turned out. Nobody was coming for his targets.

Sean Payton had told the locker room as much, as Denver sat on its laurels despite being connected to several receivers in potential trades.

“I just go off of Sean’s word,” Franklin told The Post then in November, at his locker. “He told us we got everything we need in this building, and pretty much all that, ‘the Broncos need other receivers,’ (is) outside speculation. So, it’s really not coming from the building.”

Payton’s word, indeed, has held for three years in Denver, when it comes to his wideouts. In public. In private. The largest in-season trade or free-agent signing the Broncos have made at receiver since February 2023 is … Josh Reynolds, who Denver signed to a two-year deal in the offseason of 2024 and then cut after he played a total of five games. The Broncos have held onto Courtland Sutton as their WR1, invested heavily in youth at the position, and tacked on supplemental rotational names each season. The approach has never changed.

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It certainly hasn’t changed, either, two days into 2026’s free agency. Payton said multiple times around the season’s end that Denver had too many drops in the passing game, but the Broncos haven’t shelled out in an inflated receiver market to fix that. They had some interest in former Giants star Wan’Dale Robinson, as a source said last week; Robinson agreed to terms with the Titans on Monday for four years and $78 million. Denver reached out this week, too, on steady former Green Bay target Romeo Doubs; they never made him an offer, though, as Doubs agreed to terms with the Patriots Tuesday for four years and $70 million.

Denver had some interest, too, in former Vikings wideout Jalen Nailor, but he signed for nearly $12 million a year with the Raiders. As of Tuesday, the Broncos hadn’t reached out to veteran free agents Keenan Allen, Sterling Shepard or Marques Valdez-Scantling, sources told The Post. Every puzzle piece across the past couple of days — and the whole last year, really — has pointed to the same reality: Payton likes the Broncos’ current receiver room as-is.

“The thing with the draft, we’ve invested,” Payton said at his end-of-year presser in late January. “We’ve got different — we’ve got speed, we’ve got size, we’ve got all the things I’m used to that you’d want to have in a good offense.”

In that moment, he launched into a strangely detailed explanation of how to catch a football.

Marvin Mims Jr. (19) of the Denver Broncos beats Christian Gonzalez (0) of the New England Patriots for a deep reception during the first quarter at Empower Field at Mile High in Denver, Colorado on Sunday, Jan. 25, 2026. (Photo by AAron Ontiveroz/The Denver Post)

“Most of the times, it’s with your thumbs together, not the other way around,” Payton said then. “The other way around – I’m serious – only exists when the ball’s below your belly button. Even the deep balls should be caught with your thumbs together. So we gotta be better at that.”

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Those single few sentences spelled out the end of receivers coach Keary Colbert’s three-year tenure in Denver, and Colbert’s firing was announced mere hours later. The Broncos replaced him with Ronald Curry, a longtime Payton coaching ally who interviewed for the Broncos’ offensive-coordinator job. That single change, it turns out, may be the most impactful move the Broncos make at receiver this offseason.

Denver wouldn’t shell out for a big-money wideout like Alec Pierce, who re-signed with the Colts on a four-year deal worth over $28 million annually, while it’s already paying Sutton $23 million a year on a back-loaded contract. Rising third-year receiver Franklin produced virtually the same numbers in 2025 as Doubs while being at least $15 million a year cheaper. Rising second-year receiver Pat Bryant, when healthy, produced like a bona fide WR3 down the stretch last season.

And Payton, too, continues to pound the drum for more touches for Marvin Mims Jr. (despite being the one who’s ultimately responsible for curtailing his touches).



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Golden Triangle apartment complex raises bar for incentives to attract tenants

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Golden Triangle apartment complex raises bar for incentives to attract tenants


With so many new apartments hitting the market in recent years, landlords across metro Denver are in an incentives arms race to attract new tenants. A month or two of free rent is almost a given, with more buildings offering three to four months. Fees are being discounted or eliminated, and gift cards for new tenants moving in are a common perk.

But the akin Golden Triangle, a newer 98-unit luxury apartment development at 955 Bannock St. in Denver, has pushed concessions to another level. In a sweepstakes, it recently awarded one tenant a $50,000 cash grand prize and the runner-up a year of free rent.

“We wanted to try something new. What we found, more than we thought we would, is that the sweepstakes brought the residents in these buildings together as a community. Management and staff got to know them,” said Rhys Duggan, president and CEO of Revesco Properties, which developed the building in partnership with Alpine Investments.

Duggan said the Revesco team initially considered providing a $100,000 grand prize, but talked themselves down. The sweepstakes, which started in late October, attracted 364 entries. Compared to heading up to Black Hawk or buying a lotto ticket, the odds of winning were much higher, with no money out of pocket required to enter.

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Resident Claire Scobee, winner of the $50,000 grand prize, said she planned to save most of the money — after splurging on a shopping spree with her niece, according to a news release by Revesco.

“Winning was a complete surprise and feels like a once-in-a-lifetime blessing,” Scobee said. “I’m most excited to treat my family, especially my niece, and spend a fun day together making memories.”

The second prize winner, Lisa Cordova, said winning a year’s worth of free rent would allow her to focus on a project she has long wanted to do but couldn’t while working full-time.

“It gives me the momentum to finally follow through on a creative endeavor I’ve been wanting to do for a long time,” Cordova said.

Duggan said the Golden Triangle and River North submarkets have seen a lot of supply come online in a short amount of time, which has made it hard to fill up new apartment buildings.

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Revesco Properties and Alpine Investments opened the doors on the akin Tennyson at 4560 N. Tennyson a few months before the akin Golden Triangle in early 2025. The akin Tennyson is nearly 90% full, while the akin Golden Triangle building is closer to 60% full, a reflection of how many new units went up in that neighborhood.

The Apartment Association of Metro Denver, which holds a quarterly media briefing to share the latest statistics, reports that concessions in the fourth quarter averaged 9.5% of total rent, which works out to four to five weeks of free rent. For new developments, free rent offers can average closer to three months.



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