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Real Estate
Reply to "What does new realtor fees mean for buyers?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]When I first started looking (a few years ago), it seemed that open houses were the norm. But these days you often need an agent just to walk through the house. Will that will change? [/quote] Think open houses will be more important and the days and times may change. Some agents are already doing open houses on Friday from 4 to 6 pm or 5 to 7 pm depending on daylight. Buyers can walk through the houses without paying an agent and then work directly with the listing agent to write the contract if they don't want to pay a buyer agent. NAR has sold the idea that buyers need an agent to represent them to support the current commission structure, but they really don't. I just wrote a contract for a friend who was buying his neighbor's house. I told him what to do and he did it. Maybe it took 3 hours tops. I am a high volume producer, and my broker gives me lots of leeway to do what I want. Rather than pay me, I asked him to donate $1,000 to a charity I support. [/quote] Am I correct that the split can’t be listed on the mls, but can still be worked out between agents off of the mls? Most agents deal with buyers, so won’t seller-agents, (concerned about their own futures w/the bulk of their $$ coming from their future buyer clients), “play nice” and agree to split the fees off of the mls? Of course the sellers will have to agree, but I predict not too much is going to change. Obviously, I could be completely wrong here, I guess we’ll see. [/quote] Same responder from above. To clarify further, will we see a bunch of links to websites for houses w/the split listed. So, not via mls, but commission splits are still out there? [/quote] That would be a very dumb thing to do legally. Just opening yourself up to a lawsuit. The settlement specifically disallows listing commission splits. If you just do it on a separate website, that's still in violation. What I do think will happen, especially at first, is verbal agreements between agents, especially in smaller or tightly knit areas where they know each other. Nothing written down, harder to collect a body of evidence.[/quote] You're wrong. MLS is the only place where buyers' agents' commissions can't be listed. Stop spreading false information when you don't know what you're talking about. [/quote]
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