[NorineBerlinski]

I am astounded at how many of us in our 50,60s and 70s Are unaware at the process of buying a house…
I am a landlord in Michigan and I am NOT a realtor. I have sold at least 10 homes myself by paying $250 and listing it in the MLS through a broker. The process is not difficult. It is easy and we can all do it on our own.
1. In the past, we paid 6% commission. The contract you signed when you listed your home actually stated 3% went to the sellers broker and 3% went to the buyers broker. Some people on this thread seem to think the sellers broker paid the buyers broker. This is not the case and never was the case. YOU paid the buyers realtor!
2. It was always unfair that the seller had to pay the buyers broker 3% and that is why the law has changed. There is actually a website you can complete some forms online and get that 3% back, or some of it through this class action lawsuit. I have completed this form to see if I qualify to get some of the commission I have paid to buyers agents. just google real estate class action lawsuit and it should pop up.
3. The new law that goes into effect on or around August 17 says that when completing the MLS forms you can no longer state the commission you are paying the buyers agent. Therefore, most sellers are going to pay 0%. Buyers will be responsible for paying their own realtor to show them homes! It should’ve always been this way!
4. Someone posted above that it was so difficult to list a home yourself. Here is the truth: you list a house for $250 through a broker you don’t have to pay 6% commission which equates to $30,000 on a $500,000 house. This is quite a savings for the seller. You Or the buyer choose a title company, most of them charge around the same amount of money. They will give you a for sale by owner packet with all the forms necessary to complete. Basically, it’s just the purchase agreement and sellers disclosure. That’s it for the seller! Easy, right? I realize you have to negotiate with the buyer for the sale price of your home. Aren’t you already familiar with negotiating by this time in your life? You’ve negotiated the sale of homes before, you’ve negotiated sales of cars and things on Facebook marketplace. It’s not any more difficult than that. The buyer gets their own financing and schedules their own inspections.
4. Marketing your home yourself: Just getting it into the MLS is enough. If you want, you could put a sign on the front lawn. You can buy them at Home Depot. If you want to do an open house, you can advertise that in the MLS. I have done them. They are easy.
You put a lockbox on the front door. They are $30 at Home Depot.
You download an app where buyers Realtor’ schedule showings.
The title company takes care of all the closing paperwork. You do not need to hire a lawyer.

Let’s not get bullied into paying the buyers realtor 3% again. That is the buyers responsibility to pay their own realtor for showing them homes.

Be prepared! I just spoke to a realtor in Michigan yesterday. She told me she plans on working as a buyers agent and calling the seller and telling them if they won’t pay her 3% commission she’ll refuse to show the house to her buyer! I told her if that’s the case, I would tell her just to move on… she told me I would be limiting the amount of buyers willing to see my house to a small pool. Wrong wrong wrong. Don’t be bullied people! Don’t cave, it is not the sellers responsibility to pay the buyers realtor, and it never has been. Things have been set right through this class action lawsuit. It took more than 50 years for this to happen. Don’t lose your nerve, if a buyer likes your house, they will view the inside and pay their own realtor.
Buyers may ask for “concessions“ when they make an offer to purchase. They may ask for a set dollar amount or 2 or 3% - don’t pay this, it’s the buyers responsibility to pay their own realtor!!