quote:
Not necessarily trying to carry water for realtors here, I just figure if you don’t need one, don’t hire one. If you want one, do hire one. Seems simple.

I think that’s the best part about this ruling. In the past there was realistically no way to avoid using agents if one was involved on the listing side. If you try to call to see a house but don’t have an agent the listing agent will either represent you or they’ll pass it off to someone in their group. There is basically no way to avoid spending the buyers agent fee which is ridiculous. If I like the house and hire an inspector to do a thorough inspection and the lending company performs an appraisal stating that I’m within comparable purchases then why am I paying an agent 2.5% just to essentially fill out a purchase agreement?

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Posted by MrLSU

Yellowstone, Val d'isere

Member since Jan 2004

26119 posts

Posted on 3/16/24 at 9:56 am to TitleistProV1X

Fundamental change is coming and the end result will be more litigation for home buyers, the MLS disappearing, online websites like Homes.combecoming the new database, real estate agent splits with their brokers moving back in favor of the brokerage, more affiliated companies to offset the financial losses, fewer small/medium sized real estate brokerages, buyer agents who will only charge $500 to $2000 to buyers, screws military vets who need a mortgage using VA loans, pushes more dual agent/agency, and will require wholesale changes to the mortgage/appraisal/and title agencies that are unanticipated.

That said the commission percentages should have been addressed by NAR years ago.

NAR was the largest GOP lobbying association in the US. The Biden administration just took them out.

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Posted by JiminyCricket

Member since Jun 2017

3657 posts

Posted on 3/16/24 at 10:58 am to TitleistProV1X

quote:
If I like the house and hire an inspector to do a thorough inspection and the lending company performs an appraisal stating that I’m within comparable purchases then why am I paying an agent 2.5% just to essentially fill out a purchase agreement?

That was kind of my point from earlier. It seems very simple for a guy like you but it would surprise you have many people can’t perform all of those steps, much less negotiate for themselves. Like I said earlier, if you don’t need a realtor, don’t use one. If you’re a seasoned buyer/seller who knows what to do, you don’t really need one. There are millions of Americans, however, who are absolutely retarded when it comes to any kind of legal/financial process.

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