Quote:
Originally Posted by BostonTom
Required really people will just start going to open houses or contacting the listing agent. No buyers are going to pay buyers agents 2.5. Do you really think that the seller is going to pay the 5% or 6% when they can pay 2.5. there will be plenty of agents willing to accept the 2.5%. and complete the transaction. The consumers are in the driver seat they have options. Realtors care about what is best for them the commission not what's best for other realtors. There will be a MLS realtor within the Villages who will start listing house at 2.5 percent running open houses accepting offers right from the buyers which will put the other realtors in a position were they will have to do the same if they want to stay in the business.
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Agents will be able to have open houses and people will be able to tour. However, once the discussion starts about price or the negotiating, that buyer will have to sign a Buyer's Broker agreement. Example: My listing agreement with the seller as a transaction broker in Florida is x%. The seller agrees that if another agent brings a buyer I am able to split that compensation however the seller and I agree to in our listing agreement. The buyer's brokerage agreement in that case would say lets say whatever 1/2 of what that x% is. The buyer's brokerage agreement states that we are transaction brokers as well. I work for the transaction to make the transaction work for both parties. That is the goal. Yes, I would receive the total x% because I am not splitting it with another broker since the buyer was procured from the open house I am hosting. The buyer would not be paying it, because I am disclosing to that buyer that the seller has agreed in our listing agreement. This is the same way it has worked for a very long time. It really is not changing. It is just being more transparent.