Quote:
Originally Posted by margaretmattson
Imo, it all comes down to what a seller is willing to pay an agent. The lawsuit provides for competitive pricing.
Buyers agent? Not all needs one. Anyone can go on MLS and choose the homes you like. You can easily find the price history. Do a drive-by yourself. Why bring a stranger along? Any homes that interest you, call the listing agent(s) to see the interior. Hire your own inspector and use a real estate attorney to close. Both will protect your interests.
I am certain Realtors are going to try and twist the new law to bait those who are unaware. SELLERS will have the final say in how much an agent will get paid. I hope ALL realize this. Enormous pay for showing houses is a thing of the past.
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The lawsuit, as discussed, has no direct influence on Real Estate Values.
The only immediate effect is that buyers will no longer be able to buy through the Realtor of their choice without first signing an agreement to pay that Realtor
In fact that could mean that the Listing Realtor could keep the whole 6% commission as contracted with the Owner/Seller.
So buyers would be paying their Realtor IN ADDITION to the seller paying theirs.
There's nothing in the proposed settlement which even discourages it and certainly does not ban it.
As mentioned in the original post, Owner/Sellers need to wake up!
Why not pay commissions at market value?
If you did the LISTING PART yourself (All the functions mentioned by various respondents here) what would those professional cost you?
Anyone here think maybe $12,000 ?
I doubt it.