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Real Estate
Reply to "Biden admin going after realtors! "
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[quote=Anonymous]One reason it's obvious that buyers' agents do not transparently work on behalf of buyer's interests is the existence of "credits" to entice buyers, as opposed to simply lowering the price. Why would a seller offer a 5k credit to a buyer instead of simply lowering the price of the home 5k? Because the buyer's agent is disadvantaged by a reduced sale price. So in order to keep the buyer's agent (the real "client" in most home sale transactions) happy, the seller will simply give money to the buyer rather than adjust the price. And this has a follow on effect because when home sale prices are disclosed publicly, they don't include credits, which then impacts the perceived value of other homes on the market. It all accrues to the benefit of both sellers and real estate agents (both sides) but never to the buyer.[/quote]
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