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On Sunday May 13th, 60 Minutes aired a segment entitled "Chipping Away at Realtors' Six Percent". The premise of the story is that the traditional 6% commission structure is under pressure from the Internet brokers. Here is their lead in to the story:
"But as correspondent Lesley Stahl reports, things are beginning to change. What happened to travel agents, stock brokers and book sellers – the encroachment of the Internet – is beginning to affect real estate agents. And the sacred six percent is under assault from online discounters."
The only problem with the story is that it isn't supported by the facts.
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