CFA released a report on hidden real estate commissions, which found that traditional real estate agents and brokers make it difficult for consumers to learn about commission levels. This concealment helps explain why a large majority of consumers surveyed do not know that these levels are five to six percent of the sale price of a property.
The report was based on:
- Study of all 263 agent and broker websites (listed by Google) in four cities.
- Conversations with 200 agents in 20 cities.
- A national survey of over 2,000 representative Americans.
- Review of published research on the subject.