Biden admin going after realtors!

[Anonymous]

Nice. No more 6% for those clowns.

[Anonymous]

link? clown

[Anonymous]

Anonymous wrote:link? clown

Can’t use tech yourself? Predictable.

Realtors are an inappropriate tax on the American Dream.

[Anonymous]

Anonymous wrote:link? clown

https://www.bloomberg.com/news/articles/2023-10-16/us-realtors-lucrative-fee-system-faces-mounting-antitrust-risk?embedded-checkout=true

I assume this is what OP is referring to.

[Anonymous]

Anonymous wrote:

Anonymous wrote:link? clown

https://www.bloomberg.com/news/articles/2023-10-16/us-realtors-lucrative-fee-system-faces-mounting-antitrust-risk?embedded-checkout=true

I assume this is what OP is referring to.

Paywall

[Anonymous]

Uh, so, if we bought a house recently where commission was 6% would be be part of the class?

I realize sellers pay commission, but the price is impacted by that commission.

[Anonymous]

This is very needed. Other countries don’t have realtors that take 6%. I think there’s so many ways to reform this. In my mind, buyers should have to pay for it and it shouldn’t be allowed to roll into their mortgage. After all, you can’t roll moving costs into your mortgage.

[Anonymous]

Anonymous wrote:This is very needed. Other countries don’t have realtors that take 6%. I think there’s so many ways to reform this. In my mind, buyers should have to pay for it and it shouldn’t be allowed to roll into their mortgage. After all, you can’t roll moving costs into your mortgage.

I mean if buyers are paying for it how is that fixing the issue?

Do you know how much worse that would make it for first time buyers?

Do you know that would lower the sale price?

[Anonymous]

Buyers do pay for it dimwit in the form of higher prices.

[Anonymous]

Heck, yeah. Long overdue. It’s an absurd amount of money.

[Anonymous]

Ha! It was something that began under Trump. Lol:
https://finance.yahoo.com/news/real-estate-brokers-pocketing-6-185119778.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAABxo92bsLAG6gHZTLhJKEMs_JFwL0tpRHgNMxjqwlD2-JtpzWJLn_WTnDxZpKUdFqfRR-YPFT7Vq_zI5SFuDNDkwuNj_koex-aV4pu2PlHjAVPZcECxRadhilRnXtVyfcGY-QAb7Od9lcup7qcRFZTHv5eurWBn882WvP_pW368M

[Anonymous]

If everyone needs to pay for their own realtor upfront, it will make it harder for buyers to afford to buy. But I agree that agent fees are too high. I doubt this will change the cost that much on average, it might shift it around or sellers will start giving credits or closing costs. The whole model will be difficult to change.

[Anonymous]

It's about time. In the DMV it's not unusual for a $1.5M or 2M house to sell over a weekend, so at a 6% commission that's a cool $100k+ for a little bit of work by the broker.

[Anonymous]

Anonymous wrote:If everyone needs to pay for their own realtor upfront, it will make it harder for buyers to afford to buy. But I agree that agent fees are too high. I doubt this will change the cost that much on average, it might shift it around or sellers will start giving credits or closing costs. The whole model will be difficult to change.

Not sure about that premise. Nowadays with redfin and zillow it's not clear whether everyone still needs their own realtor.

[Anonymous]

Realtors could charge flat fees or hourly rates and still have their payment come out at closing. No need to pay up front. But instead of 6%, it could be a number more related to the time spent.