The Origins Of The Six Percent Real Estate Agent Commission

The commission paid to the Real Estate agent is a serious amount of money and a concern in any transaction involving the sell of Real Estate. Where did this six percent commission come from?

The idea of a 6% Real Estate commission being paid to the agent originated during the 1940s when local Real Estate Boards openly engaged in price fixing to establish a standard rate. This process was an out and out case of an unfair practice, but the 1940s was a time when the attention of the country was directed to some serious external matters and the idea took hold and spread quickly through the industry.

In the early 1950s, the Supreme Court ruled that an established 6% commission was illegal. Rather than open up commissions to a more competitive and free market system, the Real Estate Boards merely shifted gears with a bit of fancy linguistic footwork and began to call the 6% commission the suggested amount. During the 1950s and 1960s, they managed to get away with this practice without much trouble as the majority of real estate agents complied with the suggestion.

In the 1970s lawsuits brought against the Real Estate Boards effectively put the skids on this practice. The Real Estate agents commissions were opened up to competition without the Boards either being able to mandate or even suggest 6% as the carved into stone rate. However, the rate did not alter very much in the years following these court cases. Although the rate may not have been carved into stone, it was pretty much established in the Real Estate market as a standard.

Generally, competitive markets benefit consumers. As long as someone is willing to offer a discounted rate, it would seem that the consumer stood to save money. However, the proponents of a standard 6% rate commission point to such things as health care to argue that the standard rate may actually be helping the consumer by holding the commission down to 6% rather than propping it up to that level. Although the cost of health care is not regulated, the general trend has been straight up off the charts.

Real Estate agents would be quick to point out that if you were to take a close look at just about any service or product being offered or sold in the 1940s, you would find a very serious increase in cost to the consumer. Except for Real Estate commissions which are still right around 6%. The amount being paid to the agents has increased greatly merely because the value of the property being sold has increased. Today, the internet has been responsible for a few chips in the rock of the 6% commission by offering some straight fee or reduced rate services that allow the sellers to list their own properties. The results are still mixed and the 6% commission is still the standard.

Arbitration And Conciliation Act In India An Overview

Arbitration, an age old concept in India, is a part of Alternate Dispute Resolution (ADR) with other popular ADR processes like Conciliation and Mediation. In India Alternate Dispute Resolution is governed by the Indian Arbitration and Conciliation Act 1996 which is created on the lines of the Model Law of the UNCITAL (United Nations Commission on International Trade Law). This article identifies certain problem areas of the Arbitration Laws of India, highlights some of the revolutionary decisions by Supreme Court and points out some of the misuses as well.
Problem areas:
Over the past decade, the lofty objective of enacting this Act stands substantially diluted due to various reasons as follows:
a.Inability of parties to exercise their rights explicitly provided under the statute
b.The overdependence on retired judges as arbitrators
c.Expansive delays
d.Considerable expense
e.Legal professionals treating arbitrations as an extension of the court proceedings and converting them to lengthy trials.
f.Exercise of appellate power under Section 34 of the Act – a virtual practice to challenge each and every award irrespective of whether it fits within the limited grounds specified in Section 34.
These render nugatory the stated intent of creating an arbitral process that is fair, efficient and capable of meeting the needs of the specific arbitration resulting in an explosion of litigation as against the stated intent of reducing the same.
Revolutionary decisions:
The Supreme Court, while dealing with such rival contentions has held that interpretation of a contract may fall within the realm of the arbitrator. The Court while dealing with an award would not reappreciate the evidence. An award containing reasons also may not be interfered with unless they are found to be perverse or based on a wrong proposition of law like an error apparent on the face of the award. If two views are possible, it is trite, the Court will refrain itself from interfering. Jurisdiction of the court to interfere with an award made by an arbitrator is limited. On contrary to this, in recent times, the courts were impelled to have fresh look on the ambit of challenge to an award by the arbitrator so that the award does not get undesirable immunity.
The Court also quoted it is correct that courts shall not ordinarily substitute their interpretation for that of the arbitrator. It is also true that if the parties with their eyes wide open have consented to refer the matter to the arbitration, then normally the finding of the arbitrator should be accepted without demur. There is no quarrel with this legal proposition. But in a case where it is found that the arbitrator has acted without jurisdiction and has put an interpretation on the clause of the agreement which is wholly contrary to law then in that case there is no prohibition for the courts to set things right.
While the conclusion may not be so relevant, it is the reiteration of the aforementioned principles that is reassuring. One can only hope that this would guide the hands of all judicial authorities while entertaining appeals under Section 34.
Misuse:
Misuse of the process of Arbitration by companies and parties is also not unheard of and is even prevalent in international commercial arbitration where the arbitration agreement or the arbitration clause may stipulate sole and mixed arbitral commissions. These depend primarily on whether the disputes are to be referred to a single arbitrator or the parties may appoint an arbitrator each with an umpire presiding over the arbitration commission.
Problems as discussed again arise when the party to the agreement in power may force the other party or parties to sign an arbitration agreement or arbitration clause created to cause pecuniary or territorial discomfort to ensure a quicker or unfair settlement. The conclusion is obvious. If arbitration is to survive, ADR lawyers must insist on institutional arbitration to ensure Alternate Dispute Resolution becomes a better alternative to Court litigation.
The USP of resolving disputes through Arbitration was its relative simplicity, economy, speed and privacy. However, over the time it has been observed that Institutional Arbitration through Associations or Societies like The Indian Council of Arbitration (ICA) , Federation of Indian Chambers of Commerce and Industry (FICCI), FICCI Arbitration and Conciliation Tribunal (FACT), The Associated Chambers of Commerce and Industry of India (ASSOCHAM) etc. is the best since they conduct Arbitration as per rules laid down which have stood the test of time and where the reputation of the Arbitrator is impeccable while at the same time the parties to arbitration know very clearly what the cost of the said arbitration be.
It is unfortunate that most litigants and parties do not opt for institutional arbitration which has time and again proven its mettle in providing fast, economical and completely impartial resolutions of disputes within the ambit of strongly laid down process and guidelines.

Defining The Parameters Of Limitation Periods In Personal Injury Actions

A limitation period is a stated period of time, the expiry of which extinguishes a party’s legal remedy and forbids the commencement of a legal action. Each province in Canada has general statutes of limitations and many provincial and federal statutes contain limitation periods applicable to a variety of causes of actions. Traditionally, limitation periods have been strictly enforced. More recently, the subject of when time begins to run has received greater attention from our courts.

The discoverability rule has evolved fairly recently in our civil jurisprudence.1 It gives relief in certain factual situations by extending a limitation period. According to the discoverability rule, a limitation period begins to run when the material facts upon which an action is based have been discovered, or ought to have been discovered by the plaintiff through the exercise of due diligence. The effect of the rule is to postpone the running of time until a reasonable person, in the exercise of reasonable diligence, would discover the facts necessary to maintain the action.2 It is a general rule applied to avoid injustice.

It is now over two years since the Supreme Court of Canada upheld the Ontario Court of Appeal’s decision in Peixeiro v. Haberman. Justice Major in Peixeiro adopted Taddle’s J. A.’s statement in Fehr v. Jacob (1993), 14 C.C.L.T. (2d) 200 (Man. C.A.) at 206, which is as follows:

In my opinion, the judge-made discoverability rule is nothing more than a rule of construction. Whenever a statute requires an action to be commenced within a specified time from the happening of a specific event, the statutory language must be construed. When time runs from “the accrual of the cause of action” or from some other event which can be construed as occurring only when the injured party has knowledge of the injury sustained, the judge-made discoverability rule applies. But, when time runs from an event which clearly occurs without regard to the injured party’s knowledge, the judge-made discoverability rule may not extend the period the legislature has prescribed.

In Peixeiro the court concluded that the limitation period under the Ontario Highway Traffic Act did not start to run in a personal injury action arising out of an automobile accident until the plaintiff discovered facts that could sustain a claim that his or her injuries met the threshold under the Insurance Act.

Since Peixeiro, the discoverability rule has enjoyed broad application in Ontario in motor vehicle actions and actions against municipalities and the provincial crown. As such there is now a body of jurisprudence on the scope and application of Peixeiro. The purpose of this paper is to review the way Ontario courts have applied Peixeiro in the context of personal injury litigation so that the parameters of the present authorities in the area of motor vehicle actions and actions against municipalities and the provincial crown can be better understood and defined

The Best Defence From Toronto Criminal Lawyers

Having
trouble with the Toronto authorities and need a quick escape? Get the
best criminal lawyers from the city and leave all your worries in their
hands! With great experience in the law domain, the best interest in
your case, these people will clear your file and restore your good
reputation! When things get complicated and the stakes are high, it’s
demanded that you get the best, in order to turn the most accurate
results, in your favor.

The
Toronto criminal lawyers are people with an experience over 30 years in
protecting the rights and the reputation of civilians. Working for the
best law company in the Ontario area, these people will put up
strategies to defend your personal interests in the best possible
manner. A misbehavior at a wrong moment may have severe consequences.
That is why, you need the best Toronto criminal law firm, so that the
trial you are submitted would end shortly in your favor, clearing your
file! It’s best to hire a lawyer specialized on a certain law domain,
for this person has more knowledge and much more experience than a
lawyers who takes up any case, struggling to protect your rights.
Whether your case is under the jurisdiction of the Court of Appeal, or
it went far away, to the Supreme Court, the Toronto criminal lawyers are
ready to take up your case and solve it properly!

Involved on
frauds, domestic or sexual assault, DUI or white-collar crimes? The
Toronto criminal law has experts in each of these particular cases and
they will inform you over your rights and ways to obtain your freedom. A
firm specialized in defence, with a wide array of completed files,
shows the vast knowledge of the experts who will legally set you free of
charges! Hence you need someone to believe in you, fight and protect
your interests, trust your instincts and hire the best Toronto criminal
defence! Presenting seriousness and integrity at a court law, plus
unbeatable proofs of your innocence, is something commonly met in the
services of the Toronto criminal law firm.

Here
are some of the included services , the criminal lawyers can assist you
in: theft, breaking entrances, robbery, offence regarding driving, drug
charges and homicide cases. There’s a group of Toronto criminal lawyers
dealing with a category of charges mentioned above. Performance
consists in the externalization of their activities, which means that
these people are specialized on a certain domain, which leads to better
results, due to the accumulated experience over the time. The positive
results are based on the impressive number of cases won during their
activity in law.

To conclude with, the Toronto criminal law
office, has hired the best persons whom you’ll owe your freedom. All
types of offences are covered and perfectly solved in your advantage, by
the trustworthy law firms from the Ontario region. If your actions
brought you to face the laws, then be sure to obtain the best positive
results, by obtaining the best Toronto criminal defence!

Where Are Criminal Cases Heard in Australia

Most
Victorian criminal law cases are heard in the Magistrates’ Court. This
court has the jurisdiction to hear all summary offences (ie those
punishable by up to two years’ imprisonment, such as drink driving and
driving whilst suspended) and all indictable offences triable summarily.
Your criminal lawyers Melbourne will be able to give you further advice
as to whether your charges are likely to be heard in this court. If you
have been charged with a more serious offence such as rape or culpable
driving, the charges may initially be heard in the Magistrates’ Court
for committal proceedings before proceeding to trial in the County Court
or Supreme Court of Victoria.

The
Victorian Magistrates’ Court includes specialist divisions. In addition
to the basic mention court, which hears guilty pleas, there is also the
contest mention court (which can require criminal lawyers and police to
negotiate the resolution of charges) and courts for contested hearings.
There is also a Koori court, a drug court, and the Criminal Diversion
Program which allows offenders who have been charged with a first
offence of modest seriousness to participate in the diversion program
which leads to the offender being discharged with no finding of guilt.
Participation in the Criminal Diversion Program ensures that the record
of offending is not available to the public, including potential
employers.

If you have been charged with criminal offences, but
your case can be heard in the Magistrates’ Court, you should consider
carefully proceeding in this court rather than taking the matter to
trial. The advantages to proceeding summarily in the Magistrates’ Court
are that there is a saving in time and money associated with the
hearing. There is also a limit on the maximum penalty that can be
imposed by a Magistrate hearing the matter. However, it would involve
proceeding before a Magistrate and foregoing the right to trial by jury.

Following
your Magistrates’ Court hearing, there are three options for further
review of your case if you are not satisfied with the result. In most
criminal cases, including traffic charges, there is the right of appeal
to the County Court against the finding of guilt, and also against the
penalty imposed. There is also a right of review in the Supreme Court in
certain circumstances. Strict time limits apply, so that it is
important to speak to your criminal lawyer early to discuss your
options.

Before your criminal law case proceeds in court, it is
important to obtain advice from a criminal defense lawyer. The lawyer
can give you advice as to whether you should be pleading guilty or not
guilty, and in the event of a guilty finding, how you can ensure that an
appropriate penalty is imposed. Criminal defence lawyers can also give
you advice as to the procedure which applies in your circumstances, so
that you are kept completely up to date as to the stage of your
proceedings as well as the risks and advantages of each step.

Find the Best Legal Service Provider Compnay

Most of the giant law firms and the in family legal divisions of huge enterprises have always been enjoying the benefits from legal service providers in India. However when it comes to appointment legal services, law firms in India are often disordered about choosing the best law services provider who can meet their service supplies and expectations.

There are several fields you will need help from a professional services provider who has handled India patent issues formerly like the problems in patent enlisting India or issues with India corporate law. Apart from this the legal service provider chosen by you should also help in different legal services like trademark registration India, patent drafting India, design registration in India, company integration and several other legal services of India to name a few. Additional ly the providers should also be prepared with the right staff that should include an Indian attorney, Indian lawyers and agents for other services.

Apart from this information, it is recommended that you ask the service providers several questions about their business in order to choose the best ones. Some of the questions you can ask are, ‘how long has your law firm been doing legal business in India, also ask them if they are a member of any local state or the national suggestion, or find out about the legal professional they have worked with in the past and if the profession needs specific licensing or registration The most important information the client mist know is what kind of services the firm provides and the type pf lawyers they have staffed in the legal service firm.

21st Century Law Firm is a professionally managed Corporate Law Firm based in Delhi with the expertise in corporate litigation, Supreme Court litigation, Delhi High Court litigation, Arbitration, Negotiation of contracts, Joint venture, Foreign Direct Investment (FDI), Competition law, Mining Laws, Company Incorporation, succession cases, Consumer litigation etc., to its clients.

The Firm and its partners have a strong proficiency and involvement in handling High value corporate lawsuit in India. Mr. Dev Sekhar have appeared in several trade and High value personal litigation in the Supreme Court of India, High Court of Delhi, Competition Commission of India, National Consumer Appellate Tribunal, Mining Tribunal, Indian Council of Arbitration, Delhi High Court Arbitration Centre etc., The Firm/Partners are having membership in various Domestic and International Bodies of legal profession like International Chamber of Commerce (ICC), International Bar Association (IBA), International Law Association(ILA), Chartered Institute of Arbitrators (CIA), Indian Corporate Lawyers Association(ICLA) etc/ Delhi Lawyers is author of Delhi-Lawyers.In. Astha Law Solution Associates a leading law firm in India offers legal services to all over world.

Contact Delhi Lawyers Company Company Address:-

17 D1, Hindustan Times. Mayur Vihar Ph-1, New Delhi – 110092 Phone:- 01122713607 Website:- http://www.delhi-lawyers.in