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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Woo hoo, about time!! I look for real estate listings myself and I contact listing agents myself. Why do I still need to pay someone $60,000 (3% of $1 million) for that service? I was going to do FSBO but if the commission goes down to 1% I might consider using an agent.

NAR will also no longer get exclusive access to MLS. [/quote]

Just the fact that you wrote this explains how ignorant you are about the process. You will still be paying that 60k. Do you really think that sellers are going to cut their price 60 K for you? The only difference is now you will be paying that baked in commission without actually having an agent.

Also, you could have always paid one percent. The commissions are not fixed and have never been.[/quote]

Exactly!

And real estate agents are currently paid $500 an hour minimum, with many in the area bringing in $2K+ per hour. Buyers are about to be in for a very rude awakening when they realize what they will need to pay.  I feel terrible for them.

I seriously doubt that the judge will end up approving this.  [/quote]

Wait, you seriously think a settlement as complex as this, as deeply negotiated as this, would be rejected by the judge?  Do you have any concept of what obligations a judge has as they oversee litigation like this?  If both sides agree there is an incredibly small number of scenarios in which a judge has the legal authority to reject a settlement.  One like this has a 0.001% chance of being rejected by the judge.[/quote]

Haven't you been paying attention?  He is a Realtor.  We are not possibly in a position to question his expert judgment. [/quote]

Great point, forgot he/she/they is a capital "R" Realtor (tm).  That obviously overrides any mindless economics or legal training us lowly non-Realtors (tm) have.[/quote]

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