Barbara Corcoran founded her real estate company, The Corcoran Group, in 1980. Over the next two decades, she grew her business into one of the largest brokerage firms in Manhattan before selling it for $66 million in 2001.
In an interview with Entrepreneur, Corcoran weighed in on the National Association of Realtors (NAR) ruling, a landmark case that affects real estate agent fees. It eliminates the 5% or 6% commission that sellers had traditionally paid, so a seller is no longer expected to pay a set commission rate. It took effect in August and has been called one of the biggest changes to the real estate industry.
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