Quote:
Originally Posted by retiredguy123
I have never agreed to pay any commission to a buyer's agent.
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You sure have. You agreed to pay X percent to the listing agent and the listing agent split it with the buyer's agent.
Nothing will change. Commissions have always been negotiable. No one works for free. The only change might be that buyers will go directly to the listing agent, who may then agree to take less. However, there aren't many listing agents that will take the risk of dual representation at a cut-rate price. Also, the rule requires that a buyer cannot tour the property without first signing a Buyer's Broker Agreement. The whole thing is crazy. It was a money grab. The National Association of Realtors was out-lawyered.