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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]If I am reading correctly, this new system will become effective July. Would some people intending to put their house on the market choose to wait until July to do it? If so, inventory could fall even further, and prices climb more in the next few months. [/quote]

If anyone lists their home in the next few months, I’d expect it to say “no buyer agent commission will be paid” in big letters in the listing. [/quote]

Exactly what will happen and there will be no co-op commission shown in the MLS. [/quote]

So sellers get all the benefit of having representation and buyers get none? Cue the lawsuits in a few years from buyers who are like lambs to the slaughter having to use the sellers agent because they can't afford to pay for representation. T The sellers agent LEGALLY REPRESENTS the SELLER so the buyer claims their interests weren't protected - which they weren't, because - the sellers agent represents the SELLER! Duh. Buyers will have to settle for greedy listing agents who will work both sides of the deal (this shouldn't even be legal - it's not in Maryland). THERE IS A REASON BUYER AGENT COMPENSATION WAS INTRODUCED IN THE 90's pushed for by  consumer advocacy groups that recognize buyers were at an unfair position. So the upshot of this will be that  wealthy buyers will be okay, the average person and lower income buyers are going to be screwed.

We shall see what all the unintended fall out for this is. Some prices will come down rather than go up. Who do you think is bringing all these buyers to homes?? And yes, some crappy agents will start opening doors for a per door fee, but you get what you pay for. Many buyers will not be able to pay for a seasoned agent who understands the contract and can protect the buyers interest AND  afford a higher price for a home. So the frenzy that drives the price so high because there are 20 offers on a home will subside because there will not be as many offers. And what about VA buyers who are expressly not allowed to pay for representation??? Again, thrown to the wolves of having to use the SELLERS agent. Yes, we are in a hot sellers market now, but all these sellers who think they don't need buyers agents to show their homes and guide buyers through making offers will be crying when the market shifts some day.

This is a stupid decision that will hurt everyone in the end.

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