Here's my take, if you have a good home in a good neighborhood during good economic times - you're probably going to be able to squeeze real estate agents more. Selling in memorial or the heights is a game of looking up comps, hosting an open house, and picking the best bid. 1%/1% is still paying a ton of money on these homes.

The formula for getting better offers is out there. Pay for staging, pay for pictures, fresh mulch, flowers and yard care. Set price under a bit, host open house, bake some cookies, light a vanilla candle, pick the best offer.

When you move down a bit in desirable homes I would expect the commission structures to be more status quo to capture a base level of income for the agents.

Logos Stick said:

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Houston Lee said:

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Logos Stick said:

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Houston Lee said:

---

Logos Stick said:

---

Houston Lee said:

---

Tex117 said:

---

Houston Lee said:

---

befitter said:

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johnnyblaze36 said:

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befitter said:

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Typically the buyers agent makes 3% and the sellers agent makes 3%. Now...the buyers agent is no longer a part of that deal meaning the buyer is on their own with no representation....because why would an agent want to work for a buyer if they are not going to make a dime.

Good luck with that buyers.

I am not a real estate agent.

---

This couldn't be more inaccurate. The amount of fake news surrounding this topic is wild but I guess that's to be expected with all of the clickbait headlines circulating out there.

---

How is it not accurate?

---

-6% commissions (3% for Sellers Agent and 3% for Buyers Agent) is still used today. The NAR agreement has not yet been approved. Commissions have always been negotiable. Nothing has changed.

1) Buyers Agents are still being used and still will be used. Buyers Representation Agreements have already been in place for years. The only change is that a buyer will have to sign one BEFORE the agent can show them the property.

2) The big change is that the MLS (Multiple Listing Service) will no longer display/advertise any information on their website about how much commission listing and buyer agents are making for any particular property. That information can been placed anywhere on other webpages or advertisements, just not on the MLS website.

3) You are free (and always have been) to try and negotiate the commissions paid. There are plenty of "Discount Brokers" out there that will do things for less and thus offer less services and less support. You get what you pay for...

4) If you don't want to mess with a Realtor when you sell your house, you have always been able to do FSBO (For sale by owner). Statistics show that FBSO homes typically sell for 23% LESS than similar properties that were properly marketed and exposed by a licensed Realtor.

Quote:

---

For Sale By Owner (FSBO) Statistics

• FSBOs accounted for 7% of home sales in 2023. The typical FSBO home sold for $310,000 compared to $405,000 for agent-assisted home sales.
• FSBO methods used to market home:
  
  • Friends, relatives, or neighbors: 20%
  • Yard sign: 19%
  • Third party aggregator: 14%
  • Social networking websites: n/a
  • For-sale-by-owner website: 5%
  • Open house: 7%
  • Online classified ads: 4%
  • Multiple Listing Service (MLS) Website: 5%
  • Other website with real estate listings: 1%
  • Video hosting websites: 1%
• Most difficult tasks for FSBO sellers:
  
  • Preparing/fixing up home for sale: 4%
  • Getting the right price: 15%
  • Understanding and performing paperwork: 7%
  • Selling within the planned length of time: 7%
  • Having enough time to devote to all aspects of the sale: 4%
  • Attracting potential buyers: 4%
  • Helping buyers obtain financing: 5%

---

---

Blah blah. if this were true (That the commissions were "always negotiable", then there wouldn't have been these court cases and a settlement). A court literally found "conspiracy to keep commissions high."

Defend all you want, but change is coming. I have no idea the outcome, but change is coming.

---

Of course change is coming and commissions have always been negotiable. The cases were based around the fact agent commissions were published on the MLS and thus allowed supposed "steering" away from properties that were offering less commission to buyers agents. Cooperative compensation is not illegal and has not been found by any court to be illegal.

---

Why would change be coming if they've always been negotiable?

---

The change that is coming is what I explained above. The MLS Cant publish agent commissions and buyers cant see a property unless they sign a buyers rep agreement before seeing it.

---

Uh, that's not going to fly in court.

---

That is what is in the NAR settlement. A Realtor acting on behalf of a buyer can't show a home to a buyer unless they have signed a buyers rep agreement prior to the showing.

---

You said "buyers cant see a property unless they sign a buyers agreement before seeing it". That's not the same as your second statement.

I can contact the broker and see it.

---

Sure you can. And the listing agent should ask you if you are working with a Realtor and if you are pre-approved for a loan. If you are working with a Realtor than you need have the Realtor book your appointment. If you are not pre-approved for a loan or have proof of funds, then come back when you are because you are just wasting the Listing agents time.

Listing agents are not going to spend all day showing buyers. You can wait until they host an open house.

El Gallo Blanco said:

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befitter said:

---

Typically the buyers agent makes 3% and the sellers agent makes 3%. Now...the buyers agent is no longer a part of that deal meaning the buyer is on their own with no representation....because why would an agent want to work for a buyer if they are not going to make a dime.

Good luck with that buyers.

I am not a real estate agent.

---

This. My wife is a realtor and she has earned the hell out of her commissions. No way the vast majority have the time or wherewithall to go through the process themselves. Trying to explain to the common person the concept of a waiver of appraisal and things like that is like speaking a diff language to most people.

Representing buyer's is infinitely more difficult and painstaking than repping seller. There is no way these people would have (a) landed the homes they wanted without her, or (b) been able to navigate the process, while saving money or getting certain concessions. No way lol.

---

Exactly. I've used agents for buying and selling and I'm not so cheap I expect them to work for free.

There have been a lot of comments ragging on terrible realtors. Unfortunately the barriers to entry to become a realtor are extremely low. So in good time you have a ton of new ones, and in bad times they drop off just as quickly. Way too many of them are just doing this because its the next thing after their multi level mkt gig fell through. The ones who are professional, smart, and a relatively hard workers seem to separate themselves pretty quickly from the bad ones.

Tex117 said:

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93MarineHorn said:

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Logos Stick said:

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johnnyblaze36 said:

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The fees have never been "fixed" and the settlement hasn't even been approved by the judge yet. HTH.

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So if they are not fixed, then why the anxiety by the agents over this?

---

The last thing they want is for sellers and buyers to start questioning the status quo commission structure and negotiate commissions instead.

---

Yup. Its clear that panic is setting in.

That case in Missouri literally found that they were conspiring to keep commissions high.

As always, low level realtors (there are some truly great ones), are the effing worst.

---

Expect more low level realtors if the juice is no longer worth the squeeze for buyer agents. Good luck to buyers! I am sure sellers and their agents will be totally transparent and act in good faith and give buyers all of the advice and assistance they need.

Houston Lee said:

---

NEWS FLASH: If you are a Buyer this is what is coming:

SIDE NOTE: Just to be clear. When a showing of a property is booked, the Seller is supposed to leave the home for the showing. Sellers are not going to keep doing this for unverified "curiosity seeker" buyers that may or may not be pre-approved for a mortgage loan.

1- Buyers can't tour a property unless they first sign a Buyers Agent Representation Agreement. This agreement will detail how much the buyer or the seller will have to pay for the Buyers Agent commission.

2-Or the buyer can wait for the listing agent to host an Open House

3-If you are an unrepresented buyer a listing agent is probably not going to waste their time kicking their seller out of their home and showing you their listing in a private showing because you will come across as a curiosity seeker or a buyer that may not be pre-approved for a loan.

---

This

"Buyers can't tour a property unless they first sign a Buyers Agent Representation Agreement. This agreement will detail how much the buyer or the seller will have to pay for the Buyers Agent commission"


is not going to fly!

Buyers still absolutely have an incentive, even if they aren't getting paid a dime helping you buy a house. They know that if they do a great job, that they have a great relationship with the homeowner when they turn around and sell it. This will benefit the realtors who aren't just Zillow/Redfin aggregators. It's going to kill the lazy ones who are terrible at negotiating. Which is a good thing for the industry regardless.

That's my thoughts at least. Would be interested to hear from one of the red pear guys or any other realtors on here if they agree.

befitter said:

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El Gallo Blanco said:

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befitter said:

---

Typically the buyers agent makes 3% and the sellers agent makes 3%. Now...the buyers agent is no longer a part of that deal meaning the buyer is on their own with no representation....because why would an agent want to work for a buyer if they are not going to make a dime.

Good luck with that buyers.

I am not a real estate agent.

---

This. My wife is a realtor and she has earned the hell out of her commissions. No way the vast majority have the time or wherewithall to go through the process themselves. Trying to explain to the common person the concept of a waiver of appraisal and things like that is like speaking a diff language to most people.

Representing buyer's is infinitely more difficult and painstaking than repping seller. There is no way these people would have (a) landed the homes they wanted without her, or (b) been able to navigate the process, while saving money or getting certain concessions. No way lol.

---

Exactly. I've used agents for buying and selling and I'm not so cheap I expect them to work for free.

---

I have honestly wanted to get on the phone and chew out a few of my wife's buyers. She busts her ass for them, hours upon hours...it takes away from valuable family time, largely because weekends and late evenings/nights are when most people are free...then, some of them have the nerve to get to a certain point and try to nickel and dime her out of her commission, it can be really frustrating.

With some of these clients, she is making well below minimum wage after it's all said and done, if you count the actual hours put in...but that doesn't factor in the time it sucks away from family.

I would not want to do that job...and I was always one that kind of blew it off as an easy gig for bored housewives/soccer moms. That has not been our experience at all...especially in this market. It's an absolute grind. And most buyer's will have zero clue what sh** they are about to step in without competent representation.

I have no dog in this fight, but there is such a weird flex going on with those that are cheering this ruling on…if you don't need an agen to sell your home, good on you, do it…the vast majority of the population probably couldn't handle that process, hence while there is a realtor involved. The last house I bought, the realtor killed it for me, and it wasn't an easy process for him. To each their own on buying and selling your home, calling them a "glorified car salesman" is a bit much, IMO.

There's a whole group of them freaking out about people wanting home inspections on tiktok atm. Several inspectors have been getting very public about all the DR Horton issues, as well as other new construction, and the builders/realtors/agents are absolutely losing their minds that people are demanding inspections, and things to be fixed.

Houston Lee said:

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Logos Stick said:

---

Houston Lee said:

---

Logos Stick said:

---

Houston Lee said:

---

Logos Stick said:

---

Houston Lee said:

---

Tex117 said:

---

Houston Lee said:

---

befitter said:

---

johnnyblaze36 said:

---

befitter said:

---

Typically the buyers agent makes 3% and the sellers agent makes 3%. Now...the buyers agent is no longer a part of that deal meaning the buyer is on their own with no representation....because why would an agent want to work for a buyer if they are not going to make a dime.

Good luck with that buyers.

I am not a real estate agent.

---

This couldn't be more inaccurate. The amount of fake news surrounding this topic is wild but I guess that's to be expected with all of the clickbait headlines circulating out there.

---

How is it not accurate?

---

-6% commissions (3% for Sellers Agent and 3% for Buyers Agent) is still used today. The NAR agreement has not yet been approved. Commissions have always been negotiable. Nothing has changed.

1) Buyers Agents are still being used and still will be used. Buyers Representation Agreements have already been in place for years. The only change is that a buyer will have to sign one BEFORE the agent can show them the property.

2) The big change is that the MLS (Multiple Listing Service) will no longer display/advertise any information on their website about how much commission listing and buyer agents are making for any particular property. That information can been placed anywhere on other webpages or advertisements, just not on the MLS website.

3) You are free (and always have been) to try and negotiate the commissions paid. There are plenty of "Discount Brokers" out there that will do things for less and thus offer less services and less support. You get what you pay for...

4) If you don't want to mess with a Realtor when you sell your house, you have always been able to do FSBO (For sale by owner). Statistics show that FBSO homes typically sell for 23% LESS than similar properties that were properly marketed and exposed by a licensed Realtor.

Quote:

---

For Sale By Owner (FSBO) Statistics

• FSBOs accounted for 7% of home sales in 2023. The typical FSBO home sold for $310,000 compared to $405,000 for agent-assisted home sales.
• FSBO methods used to market home:
  
  • Friends, relatives, or neighbors: 20%
  • Yard sign: 19%
  • Third party aggregator: 14%
  • Social networking websites: n/a
  • For-sale-by-owner website: 5%
  • Open house: 7%
  • Online classified ads: 4%
  • Multiple Listing Service (MLS) Website: 5%
  • Other website with real estate listings: 1%
  • Video hosting websites: 1%
• Most difficult tasks for FSBO sellers:
  
  • Preparing/fixing up home for sale: 4%
  • Getting the right price: 15%
  • Understanding and performing paperwork: 7%
  • Selling within the planned length of time: 7%
  • Having enough time to devote to all aspects of the sale: 4%
  • Attracting potential buyers: 4%
  • Helping buyers obtain financing: 5%

---

---

Blah blah. if this were true (That the commissions were "always negotiable", then there wouldn't have been these court cases and a settlement). A court literally found "conspiracy to keep commissions high."

Defend all you want, but change is coming. I have no idea the outcome, but change is coming.

---

Of course change is coming and commissions have always been negotiable. The cases were based around the fact agent commissions were published on the MLS and thus allowed supposed "steering" away from properties that were offering less commission to buyers agents. Cooperative compensation is not illegal and has not been found by any court to be illegal.

---

Why would change be coming if they've always been negotiable?

---

The change that is coming is what I explained above. The MLS Cant publish agent commissions and buyers cant see a property unless they sign a buyers rep agreement before seeing it.

---

Uh, that's not going to fly in court.

---

That is what is in the NAR settlement. A Realtor acting on behalf of a buyer can't show a home to a buyer unless they have signed a buyers rep agreement prior to the showing.

---

You said "buyers cant see a property unless they sign a buyers agreement before seeing it". That's not the same as your second statement.

I can contact the broker and see it.

---

Sure you can. And the listing agent should ask you if you are working with a Realtor and if you are pre-approved for a loan. If you are working with a Realtor than you need have the Realtor book your appointment. If you are not pre-approved for a loan or have proof of funds, then come back when you are because you are just wasting the Listing agents time.

Listing agents are not going to spend all day showing buyers. You can wait until they host an open house.

---

Then I won't list with that agent. They either show my house if a potential buyer calls or they can piss off.

As is your perogative…so what is your issue?

Logos Stick said:

---

Houston Lee said:

---

NEWS FLASH: If you are a Buyer this is what is coming:

SIDE NOTE: Just to be clear. When a showing of a property is booked, the Seller is supposed to leave the home for the showing. Sellers are not going to keep doing this for unverified "curiosity seeker" buyers that may or may not be pre-approved for a mortgage loan.

1- Buyers can't tour a property unless they first sign a Buyers Agent Representation Agreement. This agreement will detail how much the buyer or the seller will have to pay for the Buyers Agent commission.

2-Or the buyer can wait for the listing agent to host an Open House

3-If you are an unrepresented buyer a listing agent is probably not going to waste their time kicking their seller out of their home and showing you their listing in a private showing because you will come across as a curiosity seeker or a buyer that may not be pre-approved for a loan.

---

This

"Buyers can't tour a property unless they first sign a Buyers Agent Representation Agreement. This agreement will detail how much the buyer or the seller will have to pay for the Buyers Agent commission"


is not going to fly!

---

Its in the NAR Settlement that everyone is so happy about. The NAR settlement really benefits the seller. But, what the sellers don't seem to understand is now they have truly limited the buyers ability to tour and buy a house and in turn will have actually shrunk the pool of potential buyers for their own home.

"The seller pays the commissions" is such a ridiculously idiotic take.

The BUYER is the one taking out the loan and/or writing the check for an amount that includes those commissions.

one MEEN Ag said:

---

When we bought a home, we paid for our real estate agents time directly in showing a home. Was an easy transaction. I found the house, called up Jamie, he came out, showed the house to us, I paid him for his time, we parted ways, and I decided to not buy that house. We did that same process again, but then I used Jamie to put an offer on the house and we bought it.

Whats the problem with this set up? I completely understand needing supervision to walk through someone's home without them there. Why can't the free market set the going rate for 'supervised walkthrough?'

Jamie clearly knew his stuff and we gained a lot of knowledge by having him there. I was happy to pay for his time. If the market became more fractured and someone just wanted to offer 'door opening service' without any insights into the building quality - I'm sure there is a price for that.

---

I would consider this in the future. Years ago when we were first married, we made the mistake of relying on "the guy on the radio" to show us houses. I quickly found out that there were two problems. First, for the two days over the first weekend we looked at houses (about 3 each day), we had to sit in the car and listen to him go on and on about "how lucky we were" that we got this guy to show us around. It got real old, real fast.

And then the coup de grace was at the end of the second day when he pulled into a parking lot, turned off the car, turned to us and said: "Well, we've looked at 6 houses. Now we're going to sit here and decide which one we're going to make an offer on". My wife replied that we had not yet seen a house that we wanted to put an offer on. His response was that he wasn't making money showing us houses, and we needed to decide on one he had already shown us.

I asked him to step out of the car for us a moment so we could have a word. I told him I was in construction and I didn't get paid on contracts that I bid but didn't win. But I still had to put in the effort to bid the job. Then I fired him. In the end, it was his arrogance that got him fired. I would have been willing to consider a 'pay by the house' alternative, but he would have foregone the commission on what we would have ultimately purchased.

He essentially wanted it both ways. But then again, he had that big advertising bill to pay...

Logos Stick said:

---

Houston Lee said:

---

Logos Stick said:

---

Houston Lee said:

---

Logos Stick said:

---

Houston Lee said:

---

Logos Stick said:

---

Houston Lee said:

---

Tex117 said:

---

Houston Lee said:

---

befitter said:

---

johnnyblaze36 said:

---

befitter said:

---

Typically the buyers agent makes 3% and the sellers agent makes 3%. Now...the buyers agent is no longer a part of that deal meaning the buyer is on their own with no representation....because why would an agent want to work for a buyer if they are not going to make a dime.

Good luck with that buyers.

I am not a real estate agent.

---

This couldn't be more inaccurate. The amount of fake news surrounding this topic is wild but I guess that's to be expected with all of the clickbait headlines circulating out there.

---

How is it not accurate?

---

-6% commissions (3% for Sellers Agent and 3% for Buyers Agent) is still used today. The NAR agreement has not yet been approved. Commissions have always been negotiable. Nothing has changed.

1) Buyers Agents are still being used and still will be used. Buyers Representation Agreements have already been in place for years. The only change is that a buyer will have to sign one BEFORE the agent can show them the property.

2) The big change is that the MLS (Multiple Listing Service) will no longer display/advertise any information on their website about how much commission listing and buyer agents are making for any particular property. That information can been placed anywhere on other webpages or advertisements, just not on the MLS website.

3) You are free (and always have been) to try and negotiate the commissions paid. There are plenty of "Discount Brokers" out there that will do things for less and thus offer less services and less support. You get what you pay for...

4) If you don't want to mess with a Realtor when you sell your house, you have always been able to do FSBO (For sale by owner). Statistics show that FBSO homes typically sell for 23% LESS than similar properties that were properly marketed and exposed by a licensed Realtor.

Quote:

---

For Sale By Owner (FSBO) Statistics

• FSBOs accounted for 7% of home sales in 2023. The typical FSBO home sold for $310,000 compared to $405,000 for agent-assisted home sales.
• FSBO methods used to market home:
  
  • Friends, relatives, or neighbors: 20%
  • Yard sign: 19%
  • Third party aggregator: 14%
  • Social networking websites: n/a
  • For-sale-by-owner website: 5%
  • Open house: 7%
  • Online classified ads: 4%
  • Multiple Listing Service (MLS) Website: 5%
  • Other website with real estate listings: 1%
  • Video hosting websites: 1%
• Most difficult tasks for FSBO sellers:
  
  • Preparing/fixing up home for sale: 4%
  • Getting the right price: 15%
  • Understanding and performing paperwork: 7%
  • Selling within the planned length of time: 7%
  • Having enough time to devote to all aspects of the sale: 4%
  • Attracting potential buyers: 4%
  • Helping buyers obtain financing: 5%

---

---

Blah blah. if this were true (That the commissions were "always negotiable", then there wouldn't have been these court cases and a settlement). A court literally found "conspiracy to keep commissions high."

Defend all you want, but change is coming. I have no idea the outcome, but change is coming.

---

Of course change is coming and commissions have always been negotiable. The cases were based around the fact agent commissions were published on the MLS and thus allowed supposed "steering" away from properties that were offering less commission to buyers agents. Cooperative compensation is not illegal and has not been found by any court to be illegal.

---

Why would change be coming if they've always been negotiable?

---

The change that is coming is what I explained above. The MLS Cant publish agent commissions and buyers cant see a property unless they sign a buyers rep agreement before seeing it.

---

Uh, that's not going to fly in court.

---

That is what is in the NAR settlement. A Realtor acting on behalf of a buyer can't show a home to a buyer unless they have signed a buyers rep agreement prior to the showing.

---

You said "buyers cant see a property unless they sign a buyers agreement before seeing it". That's not the same as your second statement.

I can contact the broker and see it.

---

Sure you can. And the listing agent should ask you if you are working with a Realtor and if you are pre-approved for a loan. If you are working with a Realtor than you need have the Realtor book your appointment. If you are not pre-approved for a loan or have proof of funds, then come back when you are because you are just wasting the Listing agents time.

Listing agents are not going to spend all day showing buyers. You can wait until they host an open house.

---

Then I won't list with that agent. They either show my house if a potential buyer calls or they can piss off.

---

13 Reasons the Seller Wants a Buyer Represented By a Professional Real Estate Agent

1. The seller and listing agent will work with a buyer's agent that has been fingerprinted and undergone background checks.

2. The buyer's agent will service as an intermediary that gives the seller the best chance of reaching agreement and closing. A buyer's agent can work with the listing agent to problem solve and help bridge differences between clients that could otherwise derail a positive transaction for the seller and buyer.

3. The buyer's agent will work to safeguard the seller's home during showings.

4. The buyer's agent will work to ensure that the buyer is qualified to purchase the home.

5. The buyer's agent will work to ensure that the buyer has the cash available for down payment and closing costs.

6. The buyer's agent can provide feedback to the seller regarding price and condition that will help them sell their home.

7. Where available, the buyer's agent will use promulgated forms which protect all parties.

8. The seller and listing agent will work with the buyer's agent who has agreed to a code of ethics.

9. The buyer's agent is highly likely to be properly insured, which protects all parties.

10. The buyer's agent will advise the buyer to write an offer that reflects current market
conditions.

11. The buyer's agent will provide a list of the best professional vendors to choose from to keep the transaction as smooth as possible.

12. The buyer's agent will guide the buyer through all the steps from inspection to closing.

13. The buyer's agent will work tirelessly to ensure that the buyer maintains their creditworthiness until they arrive for the closing and the transaction funds.

Houston Lee said:

---

Logos Stick said:

---

Houston Lee said:

---

NEWS FLASH: If you are a Buyer this is what is coming:

SIDE NOTE: Just to be clear. When a showing of a property is booked, the Seller is supposed to leave the home for the showing. Sellers are not going to keep doing this for unverified "curiosity seeker" buyers that may or may not be pre-approved for a mortgage loan.

1- Buyers can't tour a property unless they first sign a Buyers Agent Representation Agreement. This agreement will detail how much the buyer or the seller will have to pay for the Buyers Agent commission.

2-Or the buyer can wait for the listing agent to host an Open House

3-If you are an unrepresented buyer a listing agent is probably not going to waste their time kicking their seller out of their home and showing you their listing in a private showing because you will come across as a curiosity seeker or a buyer that may not be pre-approved for a loan.

---

This

"Buyers can't tour a property unless they first sign a Buyers Agent Representation Agreement. This agreement will detail how much the buyer or the seller will have to pay for the Buyers Agent commission"


is not going to fly!

---

Its in the NAR Settlement that everyone is so happy about. The NAR settlement really benefits the seller. But, what the sellers don't seem to understand is now they have truly limited the buyers ability to tour and buy a house and in turn will have actually shrunk the pool of potential buyers for their own home.

---

No, that is not what is in the NAR agreement based on your own posts in here.

I wish I could get through to you, but alas, its impossible,. With all due respect, you are wrong.

Houston Lee said:

---

Quote:

---

For Sale By Owner (FSBO) Statistics?..

---

---

Source?

Houston Lee said:

---

Logos Stick said:

---

Houston Lee said:

---

Logos Stick said:

---

Houston Lee said:

---

Logos Stick said:

---

Houston Lee said:

---

Tex117 said:

---

Houston Lee said:

---

befitter said:

---

johnnyblaze36 said:

---

befitter said:

---

Typically the buyers agent makes 3% and the sellers agent makes 3%. Now...the buyers agent is no longer a part of that deal meaning the buyer is on their own with no representation....because why would an agent want to work for a buyer if they are not going to make a dime.

Good luck with that buyers.

I am not a real estate agent.

---

This couldn't be more inaccurate. The amount of fake news surrounding this topic is wild but I guess that's to be expected with all of the clickbait headlines circulating out there.

---

How is it not accurate?

---

-6% commissions (3% for Sellers Agent and 3% for Buyers Agent) is still used today. The NAR agreement has not yet been approved. Commissions have always been negotiable. Nothing has changed.

1) Buyers Agents are still being used and still will be used. Buyers Representation Agreements have already been in place for years. The only change is that a buyer will have to sign one BEFORE the agent can show them the property.

2) The big change is that the MLS (Multiple Listing Service) will no longer display/advertise any information on their website about how much commission listing and buyer agents are making for any particular property. That information can been placed anywhere on other webpages or advertisements, just not on the MLS website.

3) You are free (and always have been) to try and negotiate the commissions paid. There are plenty of "Discount Brokers" out there that will do things for less and thus offer less services and less support. You get what you pay for...

4) If you don't want to mess with a Realtor when you sell your house, you have always been able to do FSBO (For sale by owner). Statistics show that FBSO homes typically sell for 23% LESS than similar properties that were properly marketed and exposed by a licensed Realtor.

Quote:

---

For Sale By Owner (FSBO) Statistics

• FSBOs accounted for 7% of home sales in 2023. The typical FSBO home sold for $310,000 compared to $405,000 for agent-assisted home sales.
• FSBO methods used to market home:
  
  • Friends, relatives, or neighbors: 20%
  • Yard sign: 19%
  • Third party aggregator: 14%
  • Social networking websites: n/a
  • For-sale-by-owner website: 5%
  • Open house: 7%
  • Online classified ads: 4%
  • Multiple Listing Service (MLS) Website: 5%
  • Other website with real estate listings: 1%
  • Video hosting websites: 1%
• Most difficult tasks for FSBO sellers:
  
  • Preparing/fixing up home for sale: 4%
  • Getting the right price: 15%
  • Understanding and performing paperwork: 7%
  • Selling within the planned length of time: 7%
  • Having enough time to devote to all aspects of the sale: 4%
  • Attracting potential buyers: 4%
  • Helping buyers obtain financing: 5%

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Blah blah. if this were true (That the commissions were "always negotiable", then there wouldn't have been these court cases and a settlement). A court literally found "conspiracy to keep commissions high."

Defend all you want, but change is coming. I have no idea the outcome, but change is coming.

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Of course change is coming and commissions have always been negotiable. The cases were based around the fact agent commissions were published on the MLS and thus allowed supposed "steering" away from properties that were offering less commission to buyers agents. Cooperative compensation is not illegal and has not been found by any court to be illegal.

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Why would change be coming if they've always been negotiable?

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The change that is coming is what I explained above. The MLS Cant publish agent commissions and buyers cant see a property unless they sign a buyers rep agreement before seeing it.

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Uh, that's not going to fly in court.

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That is what is in the NAR settlement. A Realtor acting on behalf of a buyer can't show a home to a buyer unless they have signed a buyers rep agreement prior to the showing.

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You said "buyers cant see a property unless they sign a buyers agreement before seeing it". That's not the same as your second statement.

I can contact the broker and see it.

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Sure you can. And the listing agent should ask you if you are working with a Realtor and if you are pre-approved for a loan. If you are working with a Realtor than you need have the Realtor book your appointment. If you are not pre-approved for a loan or have proof of funds, then come back when you are because you are just wasting the Listing agents time.

Listing agents are not going to spend all day showing buyers. You can wait until they host an open house.

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You act like this is such a huge burden. I had a preapproval flyer from capital one in a matter of minutes. Those papers were useless.

It was never fixed. The public was too timid to negotiate. BTW not a Realtor.

jja79 said:

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It was never fixed. The public was too timid to negotiate. BTW not a Realtor.

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It was defacto fixed by collusion. That's why there was a court case.

yeah i dont think we're talking enough about the collusion component. real estate agents saying "its always negotiable!" while working with their fellow agents on what houses to show and not to show based on commissions available.

if anything this breaks up the cabal of real estate agents. particularly bad in bryan college station.

Logos Stick said:

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Houston Lee said:

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Logos Stick said:

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Houston Lee said:

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NEWS FLASH: If you are a Buyer this is what is coming:

SIDE NOTE: Just to be clear. When a showing of a property is booked, the Seller is supposed to leave the home for the showing. Sellers are not going to keep doing this for unverified "curiosity seeker" buyers that may or may not be pre-approved for a mortgage loan.

1- Buyers can't tour a property unless they first sign a Buyers Agent Representation Agreement. This agreement will detail how much the buyer or the seller will have to pay for the Buyers Agent commission.

2-Or the buyer can wait for the listing agent to host an Open House

3-If you are an unrepresented buyer a listing agent is probably not going to waste their time kicking their seller out of their home and showing you their listing in a private showing because you will come across as a curiosity seeker or a buyer that may not be pre-approved for a loan.

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This

"Buyers can't tour a property unless they first sign a Buyers Agent Representation Agreement. This agreement will detail how much the buyer or the seller will have to pay for the Buyers Agent commission"


is not going to fly!

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Its in the NAR Settlement that everyone is so happy about. The NAR settlement really benefits the seller. But, what the sellers don't seem to understand is now they have truly limited the buyers ability to tour and buy a house and in turn will have actually shrunk the pool of potential buyers for their own home.

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No, that is not what is in the NAR agreement based on your own posts in here.

I wish I could get through to you, but alas, its impossible,. With all due respect, you are wrong.

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Nope. Not Wrong.

Here is the wording from NAR about the settlement from an email I received from NAR President Kevin Sears:

MLS participants acting for buyers would be required to enter into written agreements with their buyers before touring a home.

So, buyers have to sign or the agent can't show them. Plain and simple.

StandUpforAmerica said:

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fc2112 said:

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Kinda funny seeing all these agents saying 6% was "always negotiable".

Sure never heard anyone coming out of the closet to say that before this case was settled.

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You probably didn't buy or sell many homes. It has always been negotiable... especially if an agent is selling their house and helping them buy another one.

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I have bought and sold 4 houses and only paid 6% once

That has nothing to do with whether it was negotiable because it always was.

justnobody79 said:

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glorified used car salesmen

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In my case, I'm the used car salesman. I've bought and sold several properties and did all the running myself. Find a good real estate attorney and buy title insurance, do your due diligence. I've saved thousands on agent fees.

jja79 said:

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That has nothing to do with whether it was negotiable because it always was.

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Yes, it was negotiable and it always ended up at 6%. Distinction without a difference.

Maybe. Are you certain you've never overbought or understold? Just because one line item is zero doesn't mean your net is the most it could be..

Shoefly! said:

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justnobody79 said:

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glorified used car salesmen

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In my case, I'm the used car salesman. I've bought and sold several properties and did all the running myself. Find a good real estate attorney and buy title insurance, do your due diligence. I've saved thousands on agent fees.

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No doubt real estate attorneys are loving this ruling. You are going to pay somewhere.

one MEEN Ag said:

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Houston Lee said:

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Logos Stick said:

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Houston Lee said:

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Logos Stick said:

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Houston Lee said:

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Logos Stick said:

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Houston Lee said:

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Tex117 said:

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Houston Lee said:

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befitter said:

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johnnyblaze36 said:

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befitter said:

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Typically the buyers agent makes 3% and the sellers agent makes 3%. Now...the buyers agent is no longer a part of that deal meaning the buyer is on their own with no representation....because why would an agent want to work for a buyer if they are not going to make a dime.

Good luck with that buyers.

I am not a real estate agent.

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This couldn't be more inaccurate. The amount of fake news surrounding this topic is wild but I guess that's to be expected with all of the clickbait headlines circulating out there.

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How is it not accurate?

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-6% commissions (3% for Sellers Agent and 3% for Buyers Agent) is still used today. The NAR agreement has not yet been approved. Commissions have always been negotiable. Nothing has changed.

1) Buyers Agents are still being used and still will be used. Buyers Representation Agreements have already been in place for years. The only change is that a buyer will have to sign one BEFORE the agent can show them the property.

2) The big change is that the MLS (Multiple Listing Service) will no longer display/advertise any information on their website about how much commission listing and buyer agents are making for any particular property. That information can been placed anywhere on other webpages or advertisements, just not on the MLS website.

3) You are free (and always have been) to try and negotiate the commissions paid. There are plenty of "Discount Brokers" out there that will do things for less and thus offer less services and less support. You get what you pay for...

4) If you don't want to mess with a Realtor when you sell your house, you have always been able to do FSBO (For sale by owner). Statistics show that FBSO homes typically sell for 23% LESS than similar properties that were properly marketed and exposed by a licensed Realtor.

Quote:

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For Sale By Owner (FSBO) Statistics

• FSBOs accounted for 7% of home sales in 2023. The typical FSBO home sold for $310,000 compared to $405,000 for agent-assisted home sales.
• FSBO methods used to market home:
  
  • Friends, relatives, or neighbors: 20%
  • Yard sign: 19%
  • Third party aggregator: 14%
  • Social networking websites: n/a
  • For-sale-by-owner website: 5%
  • Open house: 7%
  • Online classified ads: 4%
  • Multiple Listing Service (MLS) Website: 5%
  • Other website with real estate listings: 1%
  • Video hosting websites: 1%
• Most difficult tasks for FSBO sellers:
  
  • Preparing/fixing up home for sale: 4%
  • Getting the right price: 15%
  • Understanding and performing paperwork: 7%
  • Selling within the planned length of time: 7%
  • Having enough time to devote to all aspects of the sale: 4%
  • Attracting potential buyers: 4%
  • Helping buyers obtain financing: 5%

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Blah blah. if this were true (That the commissions were "always negotiable", then there wouldn't have been these court cases and a settlement). A court literally found "conspiracy to keep commissions high."

Defend all you want, but change is coming. I have no idea the outcome, but change is coming.

---

Of course change is coming and commissions have always been negotiable. The cases were based around the fact agent commissions were published on the MLS and thus allowed supposed "steering" away from properties that were offering less commission to buyers agents. Cooperative compensation is not illegal and has not been found by any court to be illegal.

---

Why would change be coming if they've always been negotiable?

---

The change that is coming is what I explained above. The MLS Cant publish agent commissions and buyers cant see a property unless they sign a buyers rep agreement before seeing it.

---

Uh, that's not going to fly in court.

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That is what is in the NAR settlement. A Realtor acting on behalf of a buyer can't show a home to a buyer unless they have signed a buyers rep agreement prior to the showing.

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You said "buyers cant see a property unless they sign a buyers agreement before seeing it". That's not the same as your second statement.

I can contact the broker and see it.

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Sure you can. And the listing agent should ask you if you are working with a Realtor and if you are pre-approved for a loan. If you are working with a Realtor than you need have the Realtor book your appointment. If you are not pre-approved for a loan or have proof of funds, then come back when you are because you are just wasting the Listing agents time.

Listing agents are not going to spend all day showing buyers. You can wait until they host an open house.

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You act like this is such a huge burden. I had a preapproval flyer from capital one in a matter of minutes. Those papers were useless.

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I don't believe Capital One originates loans anymore so I'm guessing that was probably awhile ago? Not a realtor but to some degree, failing to obtain financing still happens. The few realtors I've spoken to recently (not related to this) want that in hand before working with a client for different reasons.

Some people need an agent. I have bought and sold all my houses without a relator. Used an attorney for some legal work and paid an agent to list my house on MLS. 6% on 1.4 million is ridiculous. You do the same work on a mil as a 500K house, and most houses for the past 2 years sell in a very short period of time. Not to bag on agents, but I know a few that have done very well, have not college degree and have learned it on the go. Not rocket science. However, If you have the right mind set, you can use the internet and an attorney to do your heavy lifting. I have a daughter that is in real estate (more as a hobby) and sells 3-5 a year on referrals while working full time. She agrees that fees are way over priced and a change will happen at some point. She negotiates a price based on their the clients expectation which is probably half the normal cost.

Also, you can down load Texas forms on line.

Remember how LUCKY you were!!!! Spoken like a spoiled brat.

jabberwalkie09 said:

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one MEEN Ag said:

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You act like this is such a huge burden. I had a preapproval flyer from capital one in a matter of minutes. Those papers were useless.

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I don't believe Capital One originates loans anymore so I'm guessing that was probably awhile ago? Not a realtor but to some degree, failing to obtain financing still happens. The few realtors I've spoken to recently (not related to this) want that in hand before working with a client for different reasons.

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Yes, it was some time ago that I bought my home. The rub on any of these preapproval letters where that the bank could still refuse to underwrite a loan for you once the full details came out. Preapproval letters are just credit score vouchers at the end of the day. 'Yes, this guy has good credit, we would happily underwrite a loan for him, neither party has an obligation to complete a loan here'. Our real estate agent, Jamie didn't ask for any evidence of financial capability. We did tell him that we were shooting for a conventional loan and we had no reason to think we couldn't get a bank to provide us a loan.

This is different than financing falling through. There was like a month's time to go search for loans, get underwritten, and get approved by the banks for the loan. We easily found a loan at another bank.

My parents were searching for homes one time and the seller demanded to see a financial asset statement of being a millionaire. My parents were like GTFO with that. They wrote a letter explaining that they wouldn't be sharing their financial details but they will be able to pay. The owners still let them tour the house.

These 'show me the money' back and fourths can get ridiculous. During the height of buying in 2020 and it became 'cash only' there was a lot of 'cash offers' where buyers would show they had the capability to pay in cash, but then they'd just get a loan instead. So the seller missed out on none of the closing stupidity.

befitter said:

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Typically the buyers agent makes 3% and the sellers agent makes 3%. Now...the buyers agent is no longer a part of that deal meaning the buyer is on their own with no representation....because why would an agent want to work for a buyer if they are not going to make a dime.

Good luck with that buyers.

I am not a real estate agent.

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It's not hard to buy your own house. This corrects a problem, which has been permeating for years. I couldn't give a **** less if I can't find an agent when I'm buying a house. The agents do close to nothing. I find the house. I come up with what I'm willing to pay. I'm perfectly capable of negotiating the price. I can set up my own (disinterested) inspector and I can either pay cash or get financing, all on my own. Buyer's agents do close to nothing. It's about time they stop getting paid to do nothing.

you always paid 3% as a buyer and the seller paid 3% .

the whole "the seller pays the buyers agents fee" was some of the biggest BS I've ever heard in my life.

The price accounts for a 6% commission. You can do the math however you want, but it's sill there.