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[quote=Anonymous][quote=Anonymous][quote=Anonymous]These kind of posts annoy me. If the realtors lobby still think that they can protect 5-6% commission slashing to 1-2% then good luck with that. Most overpriced and under educated profession. [/quote]

Agreed, literally need to have no qualifications to get a realtors license, do negligeable amount of work, and yet expect to get paid 2.5-3 percent of the sale price of a home. The idea that someone without a college degree (or at least a degree from a decent ie top 100 college) who does a few hours of work in aggregate for a deal expects that they deserve or can expect to get paid as much as they do is irritating, to say the least. With the advent of technology, people find their own homes, so that part is now done, so I really fail to see the value of a realtor nowadays.

All this being said, I do wonder whether this ruling may have unintended consequences for people (specifically on the buying side). [/quote]

It will have unintended consequences for people who likely need the most help.   Agents who work with poorer people or immigrants who do not understand US laws and language need genuine help from agents.  As many have pointed out, the more educated can do it themselves.   People say have the buyer roll the buyer agent commission into the mortgage, but Fannie and Freddie do not permit that and the bulk of the mortgages/trust in the US use Fannie and Freddie guidelines.  I think the ultimate result will be a listing agent who is paid 1 to 2% to show buyers houses and write offers for them so that they don't have to pay a buyer's agent.   The buyers will have no representation and the seller's will have minimal representation.   This is a model that works well already in other businesses so there is no reason not to apply it to buying or selling a home.  [/quote]

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