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Reply to "Biden admin going after realtors! "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Can't wait for buyers to have to pay for their own agents. When we get buyers' agents out of the picture (because most buyers won't pay for one), it will be a much more honest system.[/quote] [b]Services will become a la carte for buyers. [/b] [b]This ruling is really going to make RE attorneys a lot more valuable in the process[/b]. Most buyers were relying on their agent to advise on various aspects of the process. When, really, they should've been working with an attorney on the contract and ensuring they were not getting taken for a ride. The contracts are boilerplate - you fill out the various pieces: price offer, contingencies, lender info, etc. I had to make all those decisions myself - my Redfin agent just filled it out. My agent then talked to the other agent....and that was it. Contract accepted, here's the dates we are thinking of closing, etc. Then the closing is all done with a title company in your jurisdiction....there's nothing for your agent to do. So really the only important thing for a buyers agent is to fill in the blanks on a NAR standardized contract according to your directions. That's about it. And it should probably be a RE attorney doing that for you, not some agent who has no fiduciary duty and can have only a HS diploma. It's been such a stupid system for a looooooooooong time. [/quote] I’m a lawyer and I’m very sure that: 1) you’re indulging yourself in wishful thinking here 2) you are not a lawyer[/quote]
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