Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This thread is a really good illustration of the fact that some people are very aware of the recent major settlement impacting real estate commissions (starting in July) and other people seem to have no idea.

We bought a house in April because it was the perfect house for us and we won the bidding war. We listed our previous house for sale in May once we were fully moved out and it will close next week. This will be our forever home and checks all our boxes, so I wasn’t going to let it slip by based on saving a few thousand dollars.

It's more than a few thousand dollars.... Take a typical $1M family house around DC, we are talking about tens of thousands.

Still, you moved because you needed/wanted to. Those of us who are planning to sell in the next year or two are watching carefully as it does represent significant $ in potential savings.

Those tens of thousands of savings can easily be negated if there are a glut of people with the same idea listing at the same time.

Doubt it, and doubtlessly agents are shrill as their lucrative careers come to a screeching halt. But the real story is the interest rates.

Don't we have to wait until August 17 now, per the link below? I'm on the fence of listing in July under the old system or waiting for August.

https://www.nar.realtor/magazine/real-estate-news/nar-practice-changes-to-take-effect-august-17

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This thread is a really good illustration of the fact that some people are very aware of the recent major settlement impacting real estate commissions (starting in July) and other people seem to have no idea.

We bought a house in April because it was the perfect house for us and we won the bidding war. We listed our previous house for sale in May once we were fully moved out and it will close next week. This will be our forever home and checks all our boxes, so I wasn’t going to let it slip by based on saving a few thousand dollars.

It's more than a few thousand dollars.... Take a typical $1M family house around DC, we are talking about tens of thousands.

Still, you moved because you needed/wanted to. Those of us who are planning to sell in the next year or two are watching carefully as it does represent significant $ in potential savings.

Those tens of thousands of savings can easily be negated if there are a glut of people with the same idea listing at the same time.

Anonymous wrote:

Anonymous wrote:This thread is a really good illustration of the fact that some people are very aware of the recent major settlement impacting real estate commissions (starting in July) and other people seem to have no idea.

We bought a house in April because it was the perfect house for us and we won the bidding war. We listed our previous house for sale in May once we were fully moved out and it will close next week. This will be our forever home and checks all our boxes, so I wasn’t going to let it slip by based on saving a few thousand dollars.

It's more than a few thousand dollars.... Take a typical $1M family house around DC, we are talking about tens of thousands.

Still, you moved because you needed/wanted to. Those of us who are planning to sell in the next year or two are watching carefully as it does represent significant $ in potential savings.

Anonymous wrote:This thread is a really good illustration of the fact that some people are very aware of the recent major settlement impacting real estate commissions (starting in July) and other people seem to have no idea.

We bought a house in April because it was the perfect house for us and we won the bidding war. We listed our previous house for sale in May once we were fully moved out and it will close next week. This will be our forever home and checks all our boxes, so I wasn’t going to let it slip by based on saving a few thousand dollars.

Anonymous wrote:This thread is a really good illustration of the fact that some people are very aware of the recent major settlement impacting real estate commissions (starting in July) and other people seem to have no idea.

I'm PP who said people sell when they need to sell. I understand the real estate commission change, I just think it's a drop in the bucket if you are, for example, somebody who bought a new home in the spring market and now needs to sell the old home promptly. That person is not delaying for 2.5%. If you're a seller on no time clock at all, may as well wait for next spring.

Interest rates and the economy impacts inventory. But what you’re getting at, the new realtor commission now goes into effect in August; well the forms will be finalized then.

This thread is a really good illustration of the fact that some people are very aware of the recent major settlement impacting real estate commissions (starting in July) and other people seem to have no idea.

I’m waiting to sell until interest rates begin to decline and this realtor commission mess irons out with time. I’m using this time to make cost effective improvements that have a good ROI.

I sold in July because I bought in May and needed June to move out of my old house and ready it for sale. Most people who are not first-time buyers have timing needs specific to their families and schools, and are not motivated as much by back-end costs.

Demand could increase because sellers would need a lower sales price to net the same if they're just paying 2-3% commission. If buyers don't use a realtor then buyers and sellers aren't as far apart to make a deal.

There is usually less listening in July.

those that didn't get their act together, sure

You’ll find out in a few weeks.

On the market and trying to figure out how this realtor commission thing will impact inventory -- likely to trigger a July bump in supply and dip on demand (if buyers paying realtors out of pocket)? Or no impact/commission structure likely to stay same?