Talk of The Villages Florida - View Single Post - Will new real estate law on August 17th dramatically lower realtor commissions?
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Old 08-05-2024, 05:31 PM
retiredguy123 retiredguy123 is offline
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Quote:
Originally Posted by CoachKandSportsguy View Post
correct, it hasn't been that way because now the FTC rules have changed. .

You can pay 0 to the buyers agent, your choice, the result may be that you are limiting your pool of buyers to a much smaller subset, which means your buyer pool is

Either is not using a buyer's agent, so could care less about buyer's commission
or
Is using a buyer's agent AND can pay for the buyer's commission in addition to the house sale.

You will be excluding buyers with agents who can't afford to pay the buyer's agent separately.

Of course you can do whatever you want, you just might have consequences you don't want, such as waiting much longer for a buyer who meets your qualifications. .

Other questions are,
will the buyer put into the offer letter that the seller must pay the buyer's agent or the offer is null and void?

If so, then you may have a lot of failed bids when one tries to sell.

Will you the buyer accept a higher offer with the excess over listing returned to the seller as the buyer's commission at closing?

Will the bank accept that higher price and those terms for financing by the buyer?

again, the market will be sh!t show until everyone figures out a standardized way of managing a real estate transaction, including banks and buyers. . Its a change, humans resist change or make a mess of it, one way or another
My only reason to pay a seller's commission is to pay for an experienced agent's sales, marketing, and negotiating skills. If potential buyers have their own agent, and expect me to pay them, I don't need an agent. I would rather list the house as a FSBO and offer a 3 percent finder's fee to whoever brings me a buyer.