Quote:
Originally Posted by BostonTom
Google NAR settlement. The seller still will pay 2.5 . But if your the buyer you can make the offer without a buyer's agent. Otherwise you're going to be paying that agent 2.5 percent . There are many Realtors trying to put a spin on it. Don't read it off one of their sites. You can't make an offer without a buyers agent saving you a lot of money. The listing agent will probably try to get you to sign an agreement having them represent you. I would never do that. Make the offer without buyers agent saving you 2.5 percent. Note All the commissions are negotiable. There is no set commission. The above is just an example
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Thank you. So, it sounds like using the word "law" is misleading and not accurate. This may change NAR and MLS policies, but apparently, it has no effect on the Florida law. I would never pay a commission to an agent to buy a house, or allow any buyer's agent to collect part of a commission that I agreed to pay a listing broker. I may not even allow buyers' agents to show my house. If I hire a listing broker to sell my house, they will represent me only. My purpose in agreeing to pay a commission is to have an experienced sales agent to help negotiate a good price for the house. Introducing a buyer's agent into the deal is contrary to my goal. If there is ever a law that requires me to pay a buyer's agent, I will just list the house as a FSBO, and offer a 3 percent commission to whoever finds me a qualified buyer.