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re: National Association of Realtors agrees to end 6% commissions

Posted on 3/18/24 at 9:11 am to
Posted by Piebald Panther
Member since Aug 2020
479 posts
Posted on 3/18/24 at 9:11 am to
The industry has only done it one way, so changing the fundamental way they have worked is scary to them. The smart ones will figure out how to explain and demonstrate their value, while the ones who can't will suffer.

I really don't believe it's going to impact them as much as they think.

For example: If I agree to list my house with an agent at 5%. I'm paying them to sell the house. They sell the house and get the 5% fee. How they want to split that fee is up after the transaction is up to them.

The other scenario for the buyer agent is to just negotiate a referral fee rather than a commission on the transaction since they referred the buyer to the listing.

Both cases require cooperative selling agents and since most all of them do both buyer and seller rep deals, it's to their advantage to offer mutually beneficial conditions.

The whole non-requirement to pay buyer agent commission is really just semantics.







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