60 Minutes – 6% (May 13, 2007)
Airdate: 05/13/07 The 6 percent sales commission has always been sacrosanct for realtors — adding up to billion in commissions this year. Much to traditional realtors’ dismay, change is coming. Online real estate discounters such as Redfin have moved in, charging significantly less for helping people buy and sell their homes, and even offering rebates. While some realtors are fighting back with all they’ve got, others have joined the competition. Lesley Stahl reports.
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