Quote:
Originally Posted by GoRedSox!
At least in CT, I agreed to pay a 5% commission when I listed the house. It was standard, really not negotiable in most cases. If the buyer didn’t have an agent, the listing agent kept the entire commission. If there was a buyer’s agent, they split the commission. This all tended to balance itself out as most agents are agents for some buyers and agents for some sellers. A lot of realtors won’t let the seller’s and buyer’s agent come from the same agency as there is some kind of special rues around this.
I do not have a fluent understanding of all of this or the new rules that are going into play, so it will be interesting to see how this plays out, but one thing is for sure, if commissions come down, there is less money to be made and some realtors and agencies may not fare as well as before.
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You're definitely correct. It will be interesting to see how it plays out for the buyer's agents. There does seem consensus on a few news stories on this that it will result in fewer agents. Can't be sure that will happen but certainly how they work commissions will change in some way.