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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Seller don't have to pay commission for buyers any longer due to the NAR lawsuit. Sellers are offering commission and concessions as an incentive to get their house sold however.[/quote]

Sellers NEVER HAD to pay commission for buyers. It was always an incentive to attract buyers. [/quote]

Sellers had to offer commission in an environment where buyers agents were commission steering their clients (see Burnett v. NAR, fact finding). If buyers agents were acting in the best financial interests of their clients (their fiduciary duty) sellers would be in more of a position to negotiate. [/quote]

No, they never HAD to pay it. They might have been too dumb to realize this, but they never HAD to do it.

I realize people love to claim the suit was some big victory. But in reality, nothing has effectively changed. Unless you get the rare buyer willing to pay their own agent, most sellers are going to have to effectively offer to pay both ends to get the deal done. And that's going to total around 5%, give or take.

And before you attack me -- because I can tell you're a simpleton who loves to use words like "steering" and refer to Freakonomics as if it holds some great insight -- I'm not connected in any way to the real estate industry.

It's so bizarre that people fixate on commissions. It's such a small proportion of the costs of buying and selling a home overall. [/quote]

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