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Reply to "Biden admin going after realtors! "
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[quote=Anonymous][quote=Anonymous]The only thing that will happen if you untie the two fees is that buyers will lose free representation, and sellers will keep 2-3 percent more profit. [/quote] Provided they use Zillow: Real Estate Attorney (simple transaction): $500 to $2,000 Real Estate Attorney (complex transaction): $5,000 to $14,000 Buyers Agent: 500,000 x 2.5% = $12,500 Buyers Agent: 1,000,000 x 2.5% = $25,000 So, the buyer(s) budget would be reduced by approximately $4,000/$10,000. Many factors but we're ballparking here. It's not nothing. It's also not market changing. Long term effects of untying fees have market changing potential. [/quote]
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