How Do Real Estate Agents Get Paid?

I still remember the first time I asked a friend who had just gotten her real estate license how much she made on her first home sale. I half-expected a flat salary number, maybe like the paycheck I was used to seeing every two weeks. Instead, she laughed and said, “Oh, it doesn’t work like that. You don’t really ‘get paid’ until the house closes.” That moment kind of blew my mind. I mean, you do all that work showing homes, making phone calls, dealing with inspectors—and you might walk away with nothing if the deal falls through. That’s when I realized the payment structure for real estate agents is a whole different animal compared to traditional jobs.

So, let’s break this down together. I’ll share what I’ve learned from talking to agents, helping friends buy homes, and digging into all the nitty-gritty details about real estate commissions. Because trust me, it’s not just about a “big paycheck” when a house sells—there are a lot of moving parts behind the scenes.

Real Estate Agents Don’t Earn a Salary (Most of the Time)

One of the biggest surprises for people outside the industry is that most real estate agents work strictly on commission. Unlike jobs where you clock in at 9, out at 5, and expect a paycheck at the end of the week, agents don’t see a dime until the property actually sells.

I had a neighbor who was an agent, and I remember seeing her grind for months—multiple open houses every weekend, answering calls at 10 p.m., chasing down paperwork—without seeing any income during that time. When the house finally sold, sure, she got a decent commission. But she joked that if you divided it by all the hours she worked, she was basically making less than minimum wage. That’s the reality a lot of new agents face, and honestly, it’s why so many drop out of the business in their first year.

The Standard Real Estate Commission

Let’s talk numbers. The “traditional” real estate commission is around 5–6% of the home’s selling price. So, if a home sells for $300,000, the total commission pool would be $15,000 to $18,000.

But here’s the catch: that commission doesn’t go directly into one agent’s pocket. It usually gets split between the buyer’s agent and the seller’s agent. In most cases, that’s a 50/50 split. So now each side is looking at $7,500 to $9,000.

Sounds decent, right? Well, it gets even more complicated because agents typically work under a brokerage, and the brokerage takes its cut too.

The Brokerage Split

Here’s something I didn’t know until I chatted with a cousin who’s been in real estate for years: every agent has to “hang their license” under a broker. The broker is like the umbrella company that legally allows agents to practice.

But that broker doesn’t let you work for free. Depending on the agreement, they’ll take anywhere from 20% to 50% of the agent’s commission. Some brokerages have a flat fee per transaction instead of a percentage, but either way, the agent isn’t walking away with the whole pie.

So, going back to our $300,000 home example:

Total commission (6%): $18,000
Split between buyer’s agent and seller’s agent: $9,000 each
Broker takes, say, 30%: agent walks away with $6,300

Not bad, but when you think about months of work, marketing expenses, gas money, and late-night calls—it’s not always as glamorous as it looks on TV shows.

Who Actually Pays the Commission?

This is a common point of confusion. Most people assume the buyer pays their agent directly, but that’s not usually how it works. The seller typically pays the full commission, which is then distributed to both the buyer’s and seller’s agents.

So, when you’re selling a house, you’re technically footing the bill for both sides of the transaction. As a buyer, you don’t usually “see” that cost, but it’s baked into the price of the home.

I once had a friend argue that buyers don’t really pay agent commissions at all. But the truth is—indirectly—they do. If a seller knows they’re going to lose 6% off the top for commissions, they’re probably pricing the home slightly higher to cover that.

Commission Isn’t Guaranteed

Here’s a tough pill a lot of new agents swallow: you can work your tail off and end up with zero if the deal falls apart.

I remember a story a local agent told me about spending six months with a couple—showing them nearly 50 homes, negotiating multiple offers, and finally landing a deal. At the last minute, the buyers pulled out because of financing issues. Boom. All that work—gone. No commission, no paycheck.

That’s why seasoned agents always say: real estate isn’t about quick wins, it’s about building a pipeline. You might not get paid this month, or even next, but if you keep nurturing relationships, those deals eventually close.

Flat Fees and Hourly Models (Rare but Real)

While the commission-based model is the norm, there are exceptions. Some agents work for a flat fee, where the seller pays a set amount regardless of the home’s selling price. Others might offer discount services, charging 1–2% instead of the traditional 6%.

I’ve even seen rare cases where real estate consultants charge an hourly rate, especially for things like market analysis or staging advice. But let’s be real—hourly pay in real estate is pretty uncommon because the big money (and motivation) is in commissions.

Extra Costs Agents Cover Themselves

This part shocked me the most: agents often pay a lot of their own business expenses upfront. Things like:

MLS (Multiple Listing Service) access fees
Professional photography for listings
Marketing and ads
Open house snacks (yep, even the cookies!)
Gas for driving buyers around town

One agent friend of mine said she easily spends $1,000+ out of pocket to market a single listing. If it doesn’t sell? She eats that cost. That’s why agents are always weighing which listings are “worth” the effort.

Dual Agency and Double Commissions

Here’s where it gets interesting: if one agent represents both the buyer and the seller, that’s called dual agency. In that case, the agent (and their brokerage) can potentially keep the full 5–6% commission.

Sounds amazing, right? Twice the money for one deal. But—it comes with a huge ethical debate. Because how can one agent fairly represent both sides when their interests conflict? Some states even ban dual agency for that reason.

When Commissions Get Negotiated

Here’s a little insider tip: commissions are always negotiable. The 6% number isn’t set in stone. I once watched a seller negotiate their listing agent’s commission down to 4.5% because they were selling a high-value property.

For luxury homes, it’s not uncommon for commissions to dip below 5%. On the flip side, if it’s a tricky property that will take tons of work, some agents push for the full 6% or more.

Why Agents Defend Their Commission

Whenever someone complains about “high commissions,” agents are quick to point out the behind-the-scenes hustle. They’re not just unlocking doors and smiling at open houses. They’re:

Researching comps
Writing contracts
Coordinating inspections and appraisals
Negotiating offers (which can be brutal)
Handling mountains of paperwork

One slip-up in that process could cost thousands. So, while the commission seems steep, many argue it reflects the risk and responsibility agents carry.

The Emotional Rollercoaster of Getting Paid

Talking with real estate agents, one theme always pops up: the waiting game is brutal. You might get an offer accepted, but the deal doesn’t close for 30–60 days. And during that time, anything can derail it—financing, inspection issues, appraisal problems.

I had a buddy who joked, “Until that check clears, I don’t spend a dime.” And honestly, that’s smart advice. Agents can have a pipeline worth tens of thousands in commissions but still be broke until the deals officially close.

Why Some Agents Move to Broker Status

After years in the game, many agents try to become brokers themselves. Why? Because brokers not only keep their own commissions but also get a slice of what their agents earn.

It’s a way of building a more stable income, though it comes with extra responsibility. You’re now managing compliance, training, and sometimes even office overhead. But for many, it’s worth it because you’re no longer handing over that 20–50% cut to someone else.

Passive Income Through Referrals

Another cool thing I learned: some agents make money even when they’re not actively selling. If they refer a client to another agent—say, out of state—they can get a referral fee, usually around 25% of that agent’s commission.

So, let’s say I know someone moving to Florida and I connect them with an agent there. If that Florida agent closes a deal, I might get a referral check for a few thousand bucks—without ever lifting a finger.

Wrapping It Up

So, how do real estate agents get paid? In short:

Mostly through commissions (5–6% of the sale price)
Paid by the seller, but split between buyer’s and seller’s agents
Further split with their brokerage
No paycheck until the deal closes

It’s a high-risk, high-reward career path. The potential for big paydays is real, but so is the possibility of months of work without a single dollar coming in. That’s why successful agents often stress hustle, persistence, and building strong client relationships.

At the end of the day, real estate agents aren’t just “making easy money” as some outsiders think. They’re running a small business—covering costs, taking risks, and betting on their ability to close deals. When you see that commission check, it’s not just payment for one sale—it’s payment for months (sometimes years) of effort, networking, and sheer determination.

Frequently Asked Questions (FAQ) About How Real Estate Agents Get Paid

Do real estate agents get paid if a house doesn’t sell?

No. Real estate agents typically work on commission, which means they only earn money when a property actually closes. If the house doesn’t sell, or the deal falls through at the last minute, the agent doesn’t receive any payment for their time or expenses. This is why many agents say real estate income can be unpredictable.

Who pays the real estate agent’s commission?

In most cases, the home seller pays the full commission, which is then split between the buyer’s agent and the seller’s agent. The buyer doesn’t usually pay the commission directly, but it’s indirectly factored into the purchase price of the home.

What percentage do real estate agents usually make?

The standard real estate commission is around 5–6% of the home’s selling price. This is usually divided between the buyer’s agent and the seller’s agent. Each agent then gives a portion of their share to their brokerage.

Do buyers pay their real estate agent?

Buyers rarely pay their agents directly. Instead, the commission for both the buyer’s and seller’s agents comes out of the seller’s proceeds at closing. However, in some rare cases—like when buying land or using a flat-fee service—a buyer might be responsible for paying part of the commission.

How much do real estate agents actually take home?

While a $300,000 home sale with a 6% commission may generate $18,000, an individual agent usually sees only a fraction of that. After splitting with the other agent and their brokerage, they might take home closer to $5,000–$7,000. Expenses like marketing, photography, and gas reduce that amount further.

Can you negotiate a real estate agent’s commission?

Yes. Real estate commissions are always negotiable. Some agents lower their percentage for luxury homes, repeat clients, or if they’re offering limited services. That said, experienced agents may be firm on their rates because of the work and costs involved in marketing a home.

Do real estate agents get paid weekly or monthly?

Real estate agents do not receive regular paychecks like salaried employees. Instead, they are paid in lump sums at the time of closing. Depending on how many deals they close in a given month, their income can vary dramatically.

What happens if two agents work together on the same deal?

In most transactions, there is a buyer’s agent and a seller’s agent, and the commission is split between them. However, if one agent represents both the buyer and the seller (dual agency), that agent may keep the full commission—though this practice is restricted or banned in some states.

Are there alternatives to commission-based pay for real estate agents?

Yes, although commission is the most common, some agents work under flat-fee arrangements or even offer hourly consulting. These models are less common but can appeal to sellers who want to save on commission costs.

Do real estate agents get paid before closing?

No. Real estate agents only receive payment after the deal is finalized at closing. Even if an offer is accepted, agents don’t get paid until all conditions—such as financing, inspections, and appraisals—are satisfied and the sale officially closes.

December 8, 2023January 8, 2024

Business Tips for Beginners: Navigating Success in Your Ventures

Introduction:

Embarking on a business journey can be both thrilling and daunting for beginners. In this comprehensive guide, we’ll explore valuable business tips to set you on the path to success. From laying the groundwork to sustaining growth, let’s delve into the intricacies of building a thriving enterprise.

Setting the Foundation

Crafting a Solid Business Plan

Starting with a clear and concise business plan is crucial. Outline your objectives, target audience, and unique selling propositions. A well-defined plan acts as a roadmap, guiding your decisions and keeping you focused on your goals.

Choosing the Right Business Structure

Understanding the various business structures is vital for beginners. Whether it’s a sole proprietorship, LLC, or corporation, each structure has its implications. Select the one aligning with your goals and offering the right balance of liability protection and simplicity.

Embracing Technology: Digital Presence

Establishing an online presence is non-negotiable in the modern business landscape. Leverage social media, create a user-friendly website, and explore e-commerce platforms. A robust digital presence enhances visibility and connects you with a broader audience.

Financial Wisdom for Entrepreneurs

Effective Budgeting Strategies

Managing finances is a make-or-break aspect of any business. Develop a realistic budget, accounting for both fixed and variable costs. Regularly review and adjust your budget to ensure financial stability and adaptability.

Securing Funding: Exploring Options

For many beginners, securing funding is a critical step. Explore various funding avenues, from traditional loans to crowdfunding and angel investors. Assess the pros and cons of each to find the best fit for your business.

Navigating Marketing and Branding

Building a Strong Brand Identity

Craft a memorable brand identity that resonates with your target audience. Consistent branding across all platforms helps build trust and recognition. Prioritize a professional logo, engaging visuals, and a compelling brand story.

Content Marketing: Leveraging Your Voice

In the digital era, content is king. Develop a content marketing strategy that communicates your brand’s values and engages your audience. From blog posts to videos, create valuable content that establishes you as an industry authority.

Search Engine Optimization (SEO) Tactics

Understanding SEO is paramount for online visibility. Incorporate relevant keywords naturally into your content, optimize meta tags, and focus on creating valuable, shareable content. Effective SEO strategies enhance your website’s ranking on search engines.

Operational Excellence

Streamlining Operations: Efficiency Matters

Efficient operations contribute to overall success. Regularly assess and streamline your processes to eliminate inefficiencies. This ensures optimal resource utilization and enhances customer satisfaction.

Customer Relationship Management (CRM)

Building strong relationships with your customers is a long-term investment. Implement a CRM system to track interactions, personalize communication, and address customer needs promptly. Satisfied customers are more likely to become repeat buyers and brand advocates.

Business Tips for Beginners: FAQs

Q: How crucial is a business plan for a startup? A: A business plan is the foundation of your venture. It outlines your goals, strategies, and financial projections, providing a roadmap for success.

Q: What are the key elements of a robust digital presence? A: A robust digital presence includes a user-friendly website, active social media presence, and e-commerce capabilities. It enhances visibility and fosters customer engagement.

Q: How can I secure funding for my startup? A: Explore various funding options such as loans, crowdfunding, or seeking investors. Assess each option’s suitability based on your business model and goals.

Q: Why is content marketing essential for businesses? A: Content marketing establishes your brand as an industry authority, engages your audience, and enhances your online visibility. It’s a powerful tool for building and maintaining a loyal customer base.

Q: What role does SEO play in online business success? A: SEO is crucial for improving your website’s visibility on search engines. By optimizing content and using relevant keywords, you increase the likelihood of attracting organic traffic.

Q: How can operational efficiency impact a business’s bottom line? A: Operational efficiency minimizes costs, improves resource utilization, and enhances overall productivity. It directly contributes to a healthier bottom line.

Conclusion

Embarking on a business venture can be challenging, but armed with the right knowledge and strategies, beginners can navigate the path to success. From laying the groundwork with a robust business plan to embracing digital marketing and operational excellence, these tips provide a holistic guide to budding entrepreneurs. Remember, continuous learning and adaptability are key as you embark on your exciting entrepreneurial journey.

October 25, 2023

Navigating Technical Support: Tips for Streamlining Operations

In today’s digital age, technical support plays a crucial role in ensuring smooth operations for businesses and individuals alike. From troubleshooting software issues to resolving hardware problems, technical support teams are the unsung heroes who keep our technology running smoothly. However, navigating the complexities of technical support can sometimes be a daunting task. That’s why this article talks about a list of tips to help streamline operations and make the technical support experience a breeze for everyone involved.

Effective Communication

Clear and concise communication is the cornerstone of successful technical support. Whether you’re the one seeking assistance or providing it, it’s important to articulate your thoughts in a way that is easily understood. Avoid using jargon or technical terms that may confuse the other party. Instead, break down the issue or solution into simple, easy-to-understand language. This will not only enhance the efficiency of the support process but also help build a rapport between the support staff and the customer.

Active Listening

Listening is an often overlooked skill in technical support, yet it is crucial for providing effective assistance. When seeking support, make sure to listen attentively to the instructions and advice given by the support staff. Take notes if necessary and ask clarifying questions when needed. On the other hand, support staff should actively listen to the customer’s concerns and questions. This demonstrates empathy and ensures that the customer feels heard and understood.

Remote Assistance

Remote assistance tools have revolutionized the way technical support is provided. With remote access capabilities, support staff can troubleshoot and resolve issues directly on the user’s computer, without the need for physical presence. This not only saves time and cost but also allows for quicker problem-solving. Technical support outsourcing services provide businesses with access to a pool of highly skilled professionals who are specialized in various aspects of IT support. These experts possess in-depth knowledge and experience in troubleshooting, network management, software installation, hardware maintenance, and more.

Knowledge Base

Building a comprehensive knowledge base is another effective way to streamline technical support operations. A knowledge base is a centralized repository of information that houses frequently asked questions, troubleshooting guides, and other relevant resources. By providing customers with access to a well-maintained knowledge base, businesses can empower them to find solutions independently, reducing the workload on support staff and speeding up response times.

Proactive Monitoring

Proactive monitoring involves continuously monitoring systems and networks to identify potential issues before they escalate. By implementing monitoring tools, businesses can detect anomalies, identify bottlenecks, and prevent potential disruptions. Proactive monitoring also allows support staff to address issues promptly, often before customers are even aware of them. This not only enhances the customer experience but also improves the overall efficiency of technical support operations.

Continuous Training

Technology is constantly evolving, and it’s crucial for technical support staff to stay updated with the latest advancements. Continuous training programs ensure that support staff are equipped with the necessary knowledge and skills to provide efficient assistance. Training can cover new software releases, emerging technologies, and customer service techniques. By investing in continuous training, businesses can enhance the capabilities of their support teams, leading to improved customer satisfaction.

Feedback Loop

A feedback loop is an essential component of any successful technical support operation. Encouraging customers to provide feedback not only helps identify areas for improvement but also allows support staff to understand customer needs better. Feedback can be collected through surveys, ratings, or customer reviews. Regularly reviewing and acting upon customer feedback can help businesses refine their support processes and deliver an exceptional customer experience.

Documentation

Maintaining detailed documentation is essential for streamlining technical support operations. This includes documenting common issues, their solutions, and any relevant troubleshooting steps. Remote tech support services can provide assistance from anywhere. With the advent of advanced collaboration tools and remote access software, technical support professionals can troubleshoot and resolve issues without physically being on-site.

Conclusion

Navigating technical support doesn’t have to be a daunting task. By implementing these tips, businesses and individuals can streamline operations and enhance the overall support experience. Effective communication, active listening, documentation, knowledge bases, remote assistance, proactive monitoring, continuous training, and a feedback loop are all key elements that contribute to efficient technical support operations. Embracing these practices will not only save time and effort but also foster better relationships between support staff and customers. So, the next time you encounter a technical issue, remember these tips and make your technical support journey a smooth one.

October 21, 2023

Five Tips to Selecting the Right Security Camera Monitoring Services

It is crucial to protect the safety and security of our offices in today’s fast-paced, globally connected world. Investing in security camera services is one practical approach to getting this piece of mind. These services keep a close eye on the premises, offering ongoing monitoring and prompt reaction to any threats.

Given the abundance of options, selecting the best security camera service provider might be challenging. We have prepared five crucial suggestions for picking the right security camera monitoring provider to aid you in making an informed choice and protecting what matters most. These suggestions will help you make the best decision for your security requirements, if you are a company owner looking to preserve precious assets.

Tips on Choosing the Right Security Camera Services

Installing a surveillance or security camera is no longer a luxury and is instead becoming a major requirement. There are reports of thefts and trespassers, leaving people worried about themselves and their assets. Hence, you must know what you are looking for in a security camera monitoring service provider before you finalize it.

1. Quality of Video Feed

This goes without a doubt as the most essential of all requirements. Unless you see clear footage, you will not be able to know and understand the security breach. Therefore, you will need a good-quality video feed for your security surveillance. You should look for someone who can offer you more than just traditional CCTV services.

Instead, look for someone who can offer high-definition and advanced cameras that can help you and authorities in need. These cameras can rotate, zoom, and even freeze at a specific spot to identify intruders for acting.

2. Phone Integration

Always prefer to go with a company that can provide smartphone integration services. You should get notifications on your phone for unusual activities. Nobody goes without a smartphone these days, and they are the easiest way to be connected and contacted. Therefore, if you get the video footage integrated into your phone, you can relax wherever you are.

3. Efficient Monitoring Services

It is difficult to monitor the surveillance all by yourself the entire day. Hence, having a security service provider who can keep an eye on your belongings the entire day is a great option. Moreover, how you read, understand, and interpret the surveillance will be different from that of an expert and trained professional.

These people are skilled at spotting crime from the surveillance feed if there is any. Moreover, you also need 24/7 technical support call center services that can help you in case of need during odd hours. These support people know how to fix a bug, restart the system, or any other technical glitch for seamless monitoring.

4. Seamless Cloud Storage

There are times when you may need to transfer your security footage to cloud storage. There are reasons for doing so; one of them is freeing space. It takes work to transfer high-volume data from one storage to another. Moreover, there is always a fear of your data getting lost or stolen during that transfer.

Hence, if your security monitoring provider offers a seamless transfer to cloud storage, you can rest assured that you will be able to check your feeds directly from there. Moreover, you will not have to rely on a single device, as you can easily access the storage from anywhere across the world.

5. Alarm Notification

If you are a business owner who deals with high cash transactions, it is a must-have feature for you. If you have an alarm system integrated with notifications, it will be easier for you to respond in case of any theft or unfortunate incident. Moreover, it can also help you with unwarranted security breaches and much more.

The Conclusion

Your decision on a security monitoring service can make or break your peace of mind at a time when security is non-negotiable. You may confidently navigate the complicated environment of security solutions by paying attention to these five pointers. Remember to evaluate your unique demands, ask for recommendations, carefully review contracts, check for technology compatibility, and give priority to responsive customer service.

March 8, 2023

Dominion lawsuit documents show Rupert Murdoch rejected election conspiracy theories

New York
CNN
—

A trove of text messages, emails, and other material from Fox News executives and on-air personalities were made public Tuesday as part of Dominion Voting Systems’ $1.6 billion defamation lawsuit against the right-wing channel.

Among the the hundreds of pages of previously unreleased documents include repeated statements from Fox Corporation chairman Rupert Murdoch rejecting conspiracy theories about Dominion that his own network promoted after the 2020 election. And Internal Fox News emails and messages — also made public Tuesday — further show how Fox News’ staff privately dismissed some of the election conspiracies that were promoted on-air.

Dominion has alleged in its lawsuit that during the 2020 presidential election the right-wing talk channel “recklessly disregarded the truth” and pushed various pro-Donald Trump conspiracy theories about the election technology company because “the lies were good for Fox’s business.”

In a statement Tuesday, Fox News accused Dominion of distortions, misinformation and misattributing quotes as part of an attempt to “smear Fox News and trample on free speech and freedom of the press.”

Dominion on Tuesday said, “the emails, texts, and deposition testimony speak for themselves.”

“We welcome all scrutiny of our evidence because it all leads to the same place — Fox knowingly spread lies causing enormous damage to an American company,” Dominion said.

Months after the 2020 presidential election, and two days before the January 6 attack on the US Capitol, Tucker Carlson wrote in a text message that he hated then-President Donald Trump “passionately,” according to the newly released court documents.

“We are very, very close to being able to ignore Trump most nights,” Carlson wrote on Jan 4, 2021, the filings show. “I truly can’t wait.”

“I hate him passionately,” the Fox host continued. “I blew up at Peter Navarro today in frustration. I actually like Peter. But I can’t handle much more of this.”

“That’s the last four years,” Carlson added. “We’re all pretending we’ve got a lot to show for it, because admitting what a disaster it’s been is too tough to digest. But come on. There isn’t really an upside to Trump.”

The text messages reveal that Carlson was harshly critical of Trump in private despite regularly expressing support for the former president on his Fox News primetime show and suggesting the 2020 election could have been stolen from him.

“He was pushing voting fraud stuff. I have no doubt there was fraud. But at this point, Trump and Lin and Powell have so discredited their own case, and the rest of us to some extent, that it’s infuriating. Absolutely enrages me,” Carlson wrote.

Days later, on Jan. 6, 2021, Carlson wrote in a text message to his producer, Alex Pfeiffer that Trump was “a demonic force, a destroyer.”

“But he’s not going to destroy us,” Carlson wrote.

In one Nov. 11, 2020 text message exchange, Carlson said Trump’s decision to snub Biden’s inauguration was “hard to believe. So destructive.”

Carlson added that Trump’s post-election behavior was “disgusting. I’m trying to look away.”

In a January deposition, Murdoch rejected conspiracy theories about Dominion, according to a transcript of his deposition released Tuesday.

“Do you believe that Dominion was engaged in a massive and coordinated effort to steal the 2020 presidential election?” Murdoch was asked by Dominion lawyers.

“No,” Murdoch replied.

“Have you ever seen any credible evidence to suggest that Dominion was engaged in a massive and coordinated effort to steal the 2020 presidential election?” the Dominion lawyer pressed.

“No,” Murdoch replied.

“Have you ever believed that Dominion was engaged in a massive and coordinated effort to steal the 2020 presidential election?” the Dominion lawyer asked.

“No,” Murdoch replied.

“You’ve never believed that Dominion was involved in an effort to delegitimize and destroy votes for Donald Trump, correct?” the Dominion lawyer asked.

“I’m open to persuasion; but, no, I’ve never seen it,” Murdoch replied.

The hundreds of pages of new documents that came out Tuesday include previously unreleased excerpts from key depositions, including Murdoch, and are part of Dominion’s defamation lawsuit against Fox News.

Fox News denies wrongdoing and says the judge should resolve the case in favor before it even goes to trial, which is scheduled for next month in Delaware.

In messages from November 2020, then-Fox Business host Lou Dobbs asked producer John Fawcett what he thought of a recent lawsuit Sidney Powell filed attempting to overturn the 2020 election.

“It’s complete bs,” Fawcett responded, according to court filings made public Tuesday. “I can’t believe that was the kraken,” he added, referring to the phrase Powell used to describe the meritless suits she filed across the country.

Dobbs was one of the most notorious on-air promoters of Powell’s conspiracy theories related to Dominion and the 2020 election before his show was canceled in February 2021.

Additionally, shortly after the 2020 election, Fox News host Tucker Carlson acknowledged that Powell wasn’t telling the truth.

According to a court filing released Tuesday, Carlson told an unknown number on November 17, 2020, that “Sidney Powell is lying” and called her an expletive.

More than a month after the 2020 election, then-Fox News DC Managing Editor Bill Sammon decried the network’s coverage of false election claims in private messages to a colleague, fearing it had become an “existential crisis” for the right-wing channel.

“More than 20 minutes into our flagship evening news broadcast and we’re still focused solely on supposed election fraud – a month after the election,” Sammon wrote to then-political editor Chris Stirewalt. “It’s remarkable how weak ratings makes good journalists do bad things.”

Stirewalt replied, “it’s a real mess.”

The messages were part of hundreds of pages of documents released Tuesday in Dominion Voting Systems’ defamation lawsuit against Fox News. (The network denies wrongdoing.)

“In my 22 years affiliated with Fox, this is the closest thing I’ve seen to an existential crisis – at least journalistically,” Sammon said.

“What’s most worrisome is that there doesn’t seem to be much conflict,” Stirewalt said.

“What I see us doing is losing the silent majority of viewers as we chase the nuts off a cliff,” Sammon replied.

Both men, Sammon and Stirewalt, departed the company in early 2021.

Murdoch said in a January 2021 email that two of his top TV hosts maybe “went too far,” in an apparent reference to their election denial after Donald Trump lost.

“Maybe Sean and Laura went too far,” Murdoch wrote in the email, referring to Sean Hannity and Laura Ingraham. “All very well for Sean to tell you he was in despair about Trump, but what did he tell his viewers?”

Murdoch sent the email to Fox News CEO Suzanne Scott on January 21, 2021, the first full day of President Joe Biden’s administration. The email also mentioned the ongoing impeachment proceedings against Trump.

In the email, Murdoch asked Scott if it was “unarguable that high profile Fox voices fed the story that the election was stolen and that January 6th (was) an important chance to have the result overturned”?

Later, Scott sent the question to Irena Briganti, Fox News’ senior vice president for corporate communications, requesting a specific answer. Briganti responded with more than 15 pages of transcript excerpts from Fox hosts Lou Dobbs, Maria Bartiromo, Jeanine Pirro, Sean Hannity and Mark Levin.

In the final stretch of the 2020 presidential campaign, Fox Corporation chairman Rupert Murdoch informally helped the Trump campaign with its TV ad strategy, according to the new filings.

Murdoch prodded Jared Kushner to improve the Trump campaign’s TV ads, the documents show. Murdoch said candidate Joe Biden’s advertisements were “a lot better” than Trump’s, pointed out that Trump’s campaign was “spending less on TV than Biden.”

Dominion Voting Systems, which is suing Fox News for defamation, previously revealed the existence of the Murdoch-Kushner exchange. But the email itself became public Tuesday, as part of a massive trove of depositions and internal Fox messages.

The email exchange yet again highlights Murdoch’s controversial dual role as a TV news mogul and an informal political adviser to senior Republicans in Washington.

On September 24, 2021, Murdoch texted Kushner: “Know you are spending less on tv than Biden. However my people tell me his advs are a lot better creatively than yours. Just passing by it on.”

Kushner replied: “Should have some new creative out this week. I did a review and like what I’m seeing. I will now be reviewing this every week until the end as the real money is starting to be spent on TV and Digital to move voters universes and turn out the base voters.”

Murdoch responded, “Your adv at 1 pm this Sunday an improvement, but Biden in same football is extremely good. Or I think so! Will send it.” It’s not clear what he was referring to by mentioning football. Dominion claimed in previous filings that Murdoch gave “confidential information” to Kushner by sending him versions of Biden’s paid TV ads that hadn’t publicly aired yet on the network.

Fox and its parent company have denied wrongdoing and say the defamation claims are meritless.

Murdoch lashed out in an email on Nov. 7, 2020, over an imminent projection by Fox News to project that Joe Biden would become the next president.

“CNN declares and FOX coming in minutes,” Murdoch wrote to former New York Post editor-in-chief Col Allan. “I hate our Decision Desk people! And pollsters! Some of the same people I think. Just for the hell of it still praying for Az to prove them wrong!,” he said in reference to Biden’s victory over Donald Trump.

In a separate email that same day, Murdoch emailed his son, Lachlan, lamenting: “We should and could have gone first (calling the election for Biden) but at least being second saves us a Trump explosion!”

Lachlan, the Fox Corporation CEO, responded, “I think good to be careful. Especially as we are still somewhat exposed on Arizona.”

Two days later, Fox News CEO Suzanne Scott texted Lachlan Murdoch that Fox viewers were “going through the 5 stages of grief” over Trump’s election loss.

“It’s two days after Biden was declared President elect. Viewers going through the 5 stages of grief,” Scott wrote to Lachlan Murdoch, according to court documents. “It’s a question of trust – the AZ was damaging but we will highlight our stars and plant flags letting the viewers know we hear them and respect them.”

“Yes. But needs constant rebuilding without any misteps [sic],” Lachlan Murdoch responded, before adding criticism of anchor Neil Cavuto and correspondent Chad Pergram, who are some of the less-partisan personalities at the right-wing network.

Fox News host Tucker Carlson claimed shortly after the 2020 election that the network’s national correspondent called him to apologize for saying there wasn’t voter fraud.

Carlson was referring to Fox News national correspondent Bryan Llenas. Among other things, Llenas had tweeted one day after the election that “There is no evidence of widespread voter fraud in Pennsylvania.” That was off-message with what Donald Trump and many Fox News personalities were claiming about massive election-rigging.

In a text chat with fellow Fox News hosts Laura Ingraham and Sean Hannity, Carlson said on Nov. 13, 2020, that Llenas offered him a personal apology.

“He called me last night to apologize for that,” Carlson said.

Carlson went on to reassure his fellow hosts that “he won’t do that again.”

The Dominion lawsuit is one of two separate cases brought by voting technology companies against Fox News that collectively seek $4.3 billion in damages, posing a serious threat to the highly profitable arm of Rupert Murdoch’s media empire. Fox News has not only vigorously denied the claims, it has insisted it is “proud” of its 2020 election coverage.

The recent court filings in the Dominion case have offered the most vivid picture to date of the chaos that transpired behind the scenes at Fox News after Trump lost the election.

In one particularly damaging admission revealed in the case last month, Murdoch acknowledged that several Fox News hosts endorsed false claims that the 2020 election was stolen.

“They endorsed,” Murdoch said, referring to Hannity, Jeanine Pirro, Maria Bartiromo, and former host Lou Dobbs.

“Some of our commentators were endorsing it,” he said, when asked about the talk hosts’ on-air positions about the election. “I would have liked us to be stronger in denouncing it, in hindsight,” he added.

In his deposition, Murdoch also acknowledged that it was “wrong” for Carlson to have hosted election conspiracy theorist Mike Lindell on his program following the presidential contest.

Fox has defended the actions of its executives and hosts in its own legal filings countering Dominion’s lawsuit, alleging that its hosts’ on-air assertions about election fraud were taken out of context.

“Dominion’s summary judgment motion is flawed from top to bottom and should be rejected in its entirety,” lawyers for Fox News wrote in a filing last month.

And Fox Corporation, the parent company of Fox News, alleged Dominion “has produced zero evidentiary support for its dubious theory that high-level executives at Fox Corporation ‘chose to publish and broadcast’ or played a ‘direct role in the creation and publication’ of false election lies.”

While the First Amendment sets a high bar for defamation cases brought against media outlets, a protection that was reinforced in the landmark 1964 Supreme Court case New York Times v. Sullivan, legal experts have told CNN that Dominion’s case appeared unusually strong.

“It’s a major blow,” renowned First Amendment attorney Floyd Abrams said of Dominion’s evidence presented last month, adding that the “recent revelations certainly put Fox in a more precarious situation” in defending against the lawsuit on First Amendment grounds.

Rebecca Tushnet, the Frank Stanton Professor of First Amendment Law at Harvard Law School, described Dominion’s evidence as a “very strong” case that “clearly lays out the difference between what Fox was saying publicly and what top people at Fox were privately admitting.”

Tushnet said that in her years of practicing and teaching law, she had never seen such damning evidence collected in the pre-trial phase of a defamation suit.

March 7, 2023

Larry Summers: US economy could hit an ‘air pocket’ in the coming months

Minneapolis
CNN
—

The US economy may still be running fast and strong, but its risk of suddenly falling into a recession still looms large, despite the Federal Reserve’s efforts, former Treasury Secretary Larry Summers warned Monday.

Summers told CNN’s Poppy Harlow in an interview that he expects the Fed will have to raise its benchmark interest rate higher than expected and that central bank’s “push and push” to combat inflation will soon trigger a downturn.

“The process of bringing down inflation will bring on a recession at some stage, as it almost always has in the past,” Summers said.

And for the US economy, it could likely mean a “Wile E. Coyote moment,” Summers said, referencing the cartoon canine’s relentless — yet futile — pursuit of the speedy Roadrunner off a cliff and into mid-air.

Gravity eventually could win out.

“The economy could hit an air pocket in a few months,” he said.

Former Treasury Secretary Larry Summers tells CNN's Poppy Harlow in a March 6, 2023, interview that the economy could face a

For the past year, the Fed has enacted a series of interest rate hikes aimed at chilling demand and cooling down historically high inflation. In recent months, as the pace of price increases has moderated, the central bank has eased off the gas pedal.

In February, the Fed’s policymaking committee approved a quarter-point interest rate hike — its smallest increase in several months.

But in the weeks following that meeting, there was a barrage of surprisingly strong economic data, showing blockbuster job gains, hearty consumer spending and unyielding inflation.

“I don’t think there’s any question that we do not yet have inflation on a secure glide path anywhere near down to the 2{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} [Fed target] level,” Summers said. “And until the Fed can be confident of that, it’s going to have to be tightening rather than easing.”

Some Fed members agree.

Federal Reserve Chairman Jerome Powell has cautioned that bringing down inflation will take a “significant period of time,” while other Fed leaders have indicated they’re open to larger interest rate hikes.

As of Monday, markets are expecting the Fed to make another quarter-point raise: The CME FedWatch Tool is showing a 69.4{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} probability of such a hike; however, the perceived chances of a half-point increase (at 30.6{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}) have grown considerably during the past few weeks. One month ago, the probability for a half-point increase was 3.3{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, according to the CME FedWatch Tool.

Summers said his best guess would be for the fed funds rate to grow from its current range (4.5{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} to 4.75{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}) to 5.5{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, but noted he “wouldn’t be amazed” if it were to hit 6{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, given the uncertainties in the economy.

“Hope for the best but plan for the worst, I think is the right advice,” Summers said.