Reply to Lawsuits against real-estate agents may reshape how we buy, sell homes

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I agree. I say that as I did two FSBOs and [b]both times people approached me with “buyers agents”

I said I am fine with buyers agents as long as buyer pays commission. They were like no you have to pay my buyers agent commission.[/b]

One was just a condo with a million identical comps in building. Turns out the “buyers agent” was buyers mother.

Buyers agents are not truly representing buyer unless buyer pays them[/quote]

So this means you meaningfully reduced the competition for your sales. It’s very reasonable to guess this cost you 4% in sales price.

I’m not an agent, but I think people miss that obvious fact in this whole debate. A significant portion of people won’t look at FSBO at all, or won’t agree to pay their own agent, or will demand an even steeper discount if it’s FSBO. It creates enough FSBO market distortions that I don’t think it’s the win the FSBO folks think it is.

Now mind you I don’t think agents provide any 5 figure services to justify their involvement inherently. But as the market currently stands, I don’t think you’re actually coming out ahead. [/quote]

So what you’re saying is that we’re being taxed at a higher rate just for a realtor commission? 60k on a 1m home is a lot.

I’d argue that we should move to a system where realtor fees aren’t included in home prices at all. Why should we pay taxes on it? And why is it allowed to be included in your mortgage? No one includes title insurance, moving company fees or the homeowners insurance you have to pay as part of a mortgage. [/quote]

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