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 08-16-2024, 01:43 PM
Plinker Plinker is offline
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Quote:
Originally Posted by candacev View Post
Quick answer: Seller is paying listing brokerage x%. Regardless of whether the buyer was procured by listing brokerage or another brokerage they are still paying that x%. Seller has the choice of whether or not they agree to let listing broker split that x% or not. It is in their best interest to do so in my opinion. If they are not willing to, then their house is just going to sell for less because whatever the buyer offers is going to take into consideration what they may have to pay the agent that they are working with. Therefore the split % is still coming from the seller
My point is this. If I hired you to sell my home, the contract would pay you a 5% commission if and only if the buyer had a buyer’s agent. However, if no buyer’s agent is involved in the transaction then your commission drops to 2.5%.
You end up with the same amount of money as if a split-commission was involved. Such a contract would not limit the pool of buyers. Problem solved! This is how to prevent double dipping of commissions.
Would you agree to such a contract if I listed my home with you?