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Shares of Compass, Inc. (NYSE:COMP – Get Free Report) shot up 4.9% during trading on Wednesday . The stock traded as high as $3.45 and last traded at $3.45. 770,319 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 4,948,288 shares. The stock had previously closed at $3.29. […]
Real estate brokerage company Compass Inc. will pay $57.5 million as part of a proposed settlement to resolve lawsuits over real estate commissions. The New York-based company also agreed to change its business practices to ensure clients can more clearly understand how brokers and agents are compensated for their services.
Buyers’ brokers will need to be more transparent about fees
Compass denied any wrongdoing and claimed the sum would not materially affect its operations.
The company will require that its brokerages and their agents clearly disclose to clients that commissions are negotiable.