Daily Archives: August 6, 2024

Buyer Agent Commission Rates Declining in Wake of NAR DOJ Settlement in 2024

According to Redfin, the typical U.S. home seller pays a 2.55% commission to the real estate agent hired by their home’s buyer. That’s down from an average of 2.62% in January 2024. Commissions have been gradually declining over the last few years, from an average of 2.89% in 2013 to 2.66% in 2023. But news…

Miami’s Brickell Office Market Hits Record $200 Square Foot Rents in 2024

The Brickell area of downtown Miami’s office market has seen rental prices soar to new heights due to intense demand from blue-chip companies based in New York, Chicago, Los Angeles and Latin America seeking premium office locations, surpassing the available supply. Brazilian bank Banco Master has secured the final 26,000 square feet in the prestigious…

Commercial Property Transactions in Japan Dive 25 Percent Annually in Q2

Hotel investments account for 40 percent of all commercial transactions in Japan Global property consultant CBRE reported this week that Japan’s commercial real estate transaction volume for Q2 2024 decreased by 25% year-over-year to JPY 663.0 billion. Significant hotel transactions boosted the sector’s acquisition volume to JPY 280.0 billion, which is about 2.6 times the…