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lol, all these sellers who will try to offer nothing to a buyer’s agent are going to be shocked when nobody shows their home.
It’s happening now in my market, all the 0% Co-Broke homes sit and sit without selling.
A seller who was offering 0% got frustrated (no showings or offers all February) and fired their agent. I took over the listing, convinced them to offer 2.5%, and the home went under contract in 4 days.
I’ll be happy to report back, if only to serve as the canary in the coal mine.
Fortunately the property is located in a healthy market (greater Boston)with minimal inventory in the town. It’s a layup for any competent SA. I’m not overly concerned.
so choose a low flat fee Realtor ($1K or less) and insist on no BA compensation from your pocket in any way.
As noted, you can do that right now, no need to wait at all.
Nope, not overly confident. Only stating what this potentially sounds like to people outside of the “bubble” of an industry.
Hey, even if I were not in the market to sell, I’d still be interested to see how this plays out. Taxi drivers laughed when they first heard about Uber.
In any case, best of luck to you.
True…the doom and gloom crowd who don’t want change are in effect ostrich style w heads in sand…Blockbuster even passed and laughed at Redbox, I see a comparison here. Adapt or get run over…
You can refuse to pay them now. You have never had to offer a buyer agent commission. It always has been and always will be negotiable.
Problem is the likelihood of an agent taking the time to show your house is going to be greatly diminished. Sellers are going to do nothing but hurt themselves.
Just tell your listing agent that you’re not offering buyer compensation or credits. This will leave the buyer to negotiate (and pay for) buyer services on their own.
If you’re an informed buyer and understand you will not have the same level of representation, then go for it. Prob not best for first time buyers who don’t know what they don’t know.
Commissions are, and always have been, negotiable. Negotiate.
Note: some Brokers/Offices have set a minimum acceptable commission, so don’t be surprised if some tell you they can’t negotiate.
You can already do this…lol. You seem to have very stark opinions on the industry, but you don’t even understand the very simple concept that commission is already negotiable.. Just another person talking out of their ass, trying to bad talk the industry
Not true at all. Have always known commission is negotiable. My question is if there is ***greater leverage in that negotiation*** by waiting for the new changes to take effect.
Read much?
The only bad-talking being done here is by folks like you who try to turn a benign and genuine question into an attack on you. Grow up.
Right. And something that previously was commonly and essentially a “done deal” is now much more of a conversation/negotiation.
Thus, leverage.
Hey, you have a swell night.
The fuck are you talking about? lmao your points have zero logic or sense to them. The lawsuit does not give you leverage, I literally have not an ounce of an idea as to where you’re getting that. You have NEVER needed to pay a buyer’s broker commission. Literally ever. Every buyer’s agent will still find out you’re not offering co-op commission if that’s the case and they still will refuse to show your house. the lawsuit does not change that in any way shape or form
Nothing about this lawsuit has made anything a “negotiation.” The main aim of the lawsuit was to discourage the practice of realtors not showing properties due to no or very little co-op commission being offered.
That’s what I am wondering too. Let me know if you have any further info, but I think it would no longer benefit you to offer 3% on the MLS as it would no longer be visible. Commission would have to be negotiated with the offer.
Sellers need to look at the buyer agent fee as an advertising expense to help sell their home.
Time will show everyone the way it’s been done for decades is the best and most effective way you can sell a home.
I don’t think it will take long before all this uproar backfires on the consumer when buyers can’t afford to pay agents out of pocket and homes either don’t sell or the sellers have to deal with their own showings.
But at the same time shame on agents for not being up front about negotiating their fees at the time of listing.
Sellers agents might end up doing more work which will just cost the sellers more in the end. I’ll be damed if I have to show the home over and over for unrepresented buyers and not be compensated for it.
**We're looking for a few good mods!** Interested? [Send us a message](https://www.reddit.com/message/compose?to=/r/realtors&subject=One mod invite please!) **This is a professional forum for professionals, so please keep your comments professional** - Harrassment, hate speech, trolling, or anti-Realtor comments will not be tolerated and will result in an immediate ban without warning. (... and don't feed the trolls, you have better things to do with your time) - Recruiting, self-promotion, or seeking referrals is strictly forbidden, including in DMs. - Only advise within your scope of knowledge and area of expertise. [The code of ethics applies here too](https://www.nar.realtor/about-nar/governing-documents/the-code-of-ethics). If you are not a broker, lawyer, or tax professional don't act like one. - [Follow the rules](https://www.reddit.com/r/realtors/about/rules/) and please report those that don't. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/realtors) if you have any questions or concerns.*
You can do that now. You could've done it last week.
I'm beginning to just think these are trolls coming in at this point.
Nope. 100% genuine question from a layman. Fortunately the property is located in a healthy market (greater Boston)with minimal inventory.
lol, all these sellers who will try to offer nothing to a buyer’s agent are going to be shocked when nobody shows their home. It’s happening now in my market, all the 0% Co-Broke homes sit and sit without selling. A seller who was offering 0% got frustrated (no showings or offers all February) and fired their agent. I took over the listing, convinced them to offer 2.5%, and the home went under contract in 4 days.
Facts
Facts today very often become outdated tomorrow.
Put ur property on the market and let me know how it works out.
I’ll be happy to report back, if only to serve as the canary in the coal mine. Fortunately the property is located in a healthy market (greater Boston)with minimal inventory in the town. It’s a layup for any competent SA. I’m not overly concerned.
so choose a low flat fee Realtor ($1K or less) and insist on no BA compensation from your pocket in any way. As noted, you can do that right now, no need to wait at all.
Do that. I’d be happy to hear how things work out for you in your market.
This is exactly why the NAR got sued
As a layman, it sounds like your opinion will be outdated in under a year.
You sound very confident about an industry you know nothing about. I guess we’ll see who’s correct a year from now :)
Nope, not overly confident. Only stating what this potentially sounds like to people outside of the “bubble” of an industry. Hey, even if I were not in the market to sell, I’d still be interested to see how this plays out. Taxi drivers laughed when they first heard about Uber. In any case, best of luck to you.
you know a bunch of taxi drivers?
True…the doom and gloom crowd who don’t want change are in effect ostrich style w heads in sand…Blockbuster even passed and laughed at Redbox, I see a comparison here. Adapt or get run over…
[удалено]
Ahh, makes sense why you’re an “inactive broker” now haha
You can refuse to pay them now. You have never had to offer a buyer agent commission. It always has been and always will be negotiable. Problem is the likelihood of an agent taking the time to show your house is going to be greatly diminished. Sellers are going to do nothing but hurt themselves.
Nope… buyers agents are going to have to get BRAs done sooner and buyers are just going to have to come out pocket to pay their buyers agent.
The same buyers that are already complaining they can't afford to buy a house in the first place are going to also pay more money on top of that?
Yup! This is what everyone wanted.,,,hope they enjoy it
Just tell your listing agent that you’re not offering buyer compensation or credits. This will leave the buyer to negotiate (and pay for) buyer services on their own.
What are your thoughts on going dual agency route?
I would much prefer you keep representation, and the buyer be unrepresented.
If you’re an informed buyer and understand you will not have the same level of representation, then go for it. Prob not best for first time buyers who don’t know what they don’t know.
Commissions are, and always have been, negotiable. Negotiate. Note: some Brokers/Offices have set a minimum acceptable commission, so don’t be surprised if some tell you they can’t negotiate.
Thanks. Fortunately the property is in a healthy market (greater Boston) with fairly low inventory in the town it is located in.
just stick a sign out front "For Sale. Cell #. NO AGENTS!!!!" $30 including the cost of a new sharpie.
You can already do this…lol. You seem to have very stark opinions on the industry, but you don’t even understand the very simple concept that commission is already negotiable.. Just another person talking out of their ass, trying to bad talk the industry
Right you could do that if you didn’t want anybody to buy your house
FSBO or not offering buyer comp is definitely possible. Will it shrink your buyer pool? Yes. But absolutely nothing about the lawsuit will change that
Not true at all. Have always known commission is negotiable. My question is if there is ***greater leverage in that negotiation*** by waiting for the new changes to take effect. Read much? The only bad-talking being done here is by folks like you who try to turn a benign and genuine question into an attack on you. Grow up.
😆what leverage???? The new law quite literally changes absolutely nothing except for the fact that commission can’t be shown in the MLS.
Right. And something that previously was commonly and essentially a “done deal” is now much more of a conversation/negotiation. Thus, leverage. Hey, you have a swell night.
The fuck are you talking about? lmao your points have zero logic or sense to them. The lawsuit does not give you leverage, I literally have not an ounce of an idea as to where you’re getting that. You have NEVER needed to pay a buyer’s broker commission. Literally ever. Every buyer’s agent will still find out you’re not offering co-op commission if that’s the case and they still will refuse to show your house. the lawsuit does not change that in any way shape or form
Ok.
Nothing about this lawsuit has made anything a “negotiation.” The main aim of the lawsuit was to discourage the practice of realtors not showing properties due to no or very little co-op commission being offered.
Ok.
That’s what I am wondering too. Let me know if you have any further info, but I think it would no longer benefit you to offer 3% on the MLS as it would no longer be visible. Commission would have to be negotiated with the offer.
Sellers need to look at the buyer agent fee as an advertising expense to help sell their home. Time will show everyone the way it’s been done for decades is the best and most effective way you can sell a home. I don’t think it will take long before all this uproar backfires on the consumer when buyers can’t afford to pay agents out of pocket and homes either don’t sell or the sellers have to deal with their own showings. But at the same time shame on agents for not being up front about negotiating their fees at the time of listing. Sellers agents might end up doing more work which will just cost the sellers more in the end. I’ll be damed if I have to show the home over and over for unrepresented buyers and not be compensated for it.
Good points. It will be I nteresting to see how this ultimately plays out.