Reply to Biden admin going after realtors!

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[quote=Anonymous][quote]This rule change will do nothing to deter Steering; theoretically it would only aggravate it. The solution is the untying of seller/buyer broker fees. In no other industry of competing interests is one party’s representation compensated by the adversarial interest. [b]Imagine your soon-to-be-ex paying your divorce attorney[/b]; that would not even be allowed, not without highly specific circumstances. In the allice-in-wonderland-ian theme park of the real estate industry, it’s a perfectly normal arrangement worth spending millions to force consumer participation.[/quote]

This happens all the time.  Usually when one party has all the money.  That is often the situation in homebuying situations.  My spouse is a realtor, and I suspect that in the relatively near future, buyer agency will be pretty uncommon (as it was 30 years ago), since few buyers will be able to afford to pay for representation (sellers can usually only afford it because they can pay out of the proceeds of the sale).  I don't think this will ultimately be good for buyers.  It will save sellers some money over the long haul, but there is a cost to that for both buyers and buyer agents.[/quote]

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