Originally Posted by MightyDog (Post 2343932)

I don't know about all that and it doesn't interest me.

Unless it's an out-of-town real estate buy, in which case I will find my own buyers agent (BA) to assist, I don't use agents on the buy side and marvel that people still do. Unless they're inexperienced, then, I get it.

If you know what you're doing, don't use any buy side agent. It will save you thousands because you can negotiate the purchase price down by part or most of the fee that the seller would have had to pay if you did have a BA. I've done it twice. Ka-ching for me.

People should just contact the listing agent to see a house. They'll also know more about the house and seller than a BA will.

Originally Posted by Glowing Horizon (Post 2344302)

Seller’s agents legally represent the seller ONLY. Any seller’s agent who shows property to a buyer & goes on to a sale with no buyer’s representative has a conflict of interest. Your Ka-ching would be an expensive lawsuit waiting to happen for that seller’s agent.

Originally Posted by melpetezrinski (Post 2343926)

Whenever you show interest in a property listed on realtor.com or zillow.com, a buyer realtor usually contacts you in hopes of representing you as the buyers agent. These buyer agents pay a fee to the MLS websites to get these leads. These agents also get kickbacks from mortgage companies if the eventual buyer needs their funding. So, it's all about paying and getting paid for leads.

Originally Posted by retiredguy123 (Post 2344304)

Huh? Whenever I have bought a house, I have never been represented by an agent. As a buyer, I can represent myself.

Originally Posted by melpetezrinski (Post 2343926)

Whenever you show interest in a property listed on realtor.com or zillow.com, a buyer realtor usually contacts you in hopes of representing you as the buyers agent. These buyer agents pay a fee to the MLS websites to get these leads. These agents also get kickbacks from mortgage companies if the eventual buyer needs their funding. So, it's all about paying and getting paid for leads.

Originally Posted by Lynnesail (Post 2344104)

Can I sell my own house without an agent?

Originally Posted by Glowing Horizon (Post 2344314)

Look like those days are over as of July 1 ,2024

Florida'''s real estate agents could see changes in their pay | WUSF

Originally Posted by retiredguy123 (Post 2343931)

I may pay an agent for their sales and marketing skills to represent me when selling a house. But, I would never pay an agent to represent me when buying a house. I know how to buy a house.

Originally Posted by TeresaE (Post 2344316)

Kickbacks from mortgage companies to real estate agents is illegal. Look up RESPA No brokerage gets anything from a mortgage company. Buyers agent may refer a mortgage company in order to help the buyer qualify for a purchase. But no money is ever exchanged. BTY. The average income for a real estate agent is $30k a year. And they work very hard for that money.

Originally Posted by massachusettskid (Post 2344339)

The only problem the public needs to realize is because of this lawsuit an agent will not be able to show you a listing if a buyer's agreement is not signed. It is the law going forward. That agreement can be for just that house or a period of time but will need to be signed

Originally Posted by Glowing Horizon (Post 2344302)

Seller’s agents legally represent the seller ONLY. Any seller’s agent who shows property to a buyer & goes on to a sale with no buyer’s representative has a conflict of interest. Your Ka-ching would be an expensive lawsuit waiting to happen for that seller’s agent.

Originally Posted by CoachKandSportsguy (Post 2344397)

Ah, that is what I was looking for when starting this thread. . . that is why I am seeing / hearing what is now different about the new law going forward. .

thanks to another mass man for explanation. . there were a lot of plain process answers which just repeated what happened.

sportsguy

Originally Posted by MightyDog (Post 2344409)

Well, I don't know that Mass Kid has it right. I read that linked article and, according to it (I haven't searched further), nothing seems to be concrete yet.

There is plenty of vagueness in the article so, things don't seem to be finalized yet or implemented.