How the realtor's commission settlement will change real estate

The National Association of Realtors will reduce its fees and stop requiring that sellers pay both their broker and a buyer's broker.

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[texasnative]

I’m going to save 10K in commissions on the sale of my home so I will lower the price of my house rather than pocket that money for myself - SAID NO SELLER EVER

[LamarA-bqzz]

So now they wanna blame the realtors for the housing Lol this is too funny.

[moniquetarpley]

Real estate commissions have nothing to do with inflated home prices. Inflated home prices have to do with huge corporations buying up homes increasing their value.

[ScottMacDonald]

I’ve seen a lot of commentary on this but no one has mentioned the fact that most buyers are strapped for cash and if they have to pay their buyers agent out of their own pocket it will significantly reduce the amount of money they have for a down payment. Which means they may have to accept a higher interest rate on their mortgage because they don’t have enough cash down, or they may not be able to buy at all. If you want to make a significant change in the industry, stop treating single family homes as an asset class for investment by real estate holding companies that buy insane numbers of homes to use as rentals, thereby reducing the number of homes available for families to purchase AND artificially driving up rental prices. There are multiple neighborhoods in Atlanta where virtually ALL the homes are owned by greedy, profiteering investment firms.

[SelfHandledRogue]

Every realator we used did absolutely nothing but introduce use to a title company that did the paperwork.

[Max-ipyb]

Or just be smarter and don’t use an agent.

[markj]

I put a "for sale by owner" sign out front, listed on Zillow, printed out a purchase agreement all for less than 500.00.

[spencercoleman]

Don’t get it twisted, this isn’t to protect buyers and ultimately going to hurt them as they never had to pay for brokerage services. Now they are going to be incentivized to not have representation creating dual agency with the seller ultimately always getting the better deal.

[dosmasdos]

Good for both parties . Realtors are not worth more that 2k flat fee

[Legoman]

It’s going to be a dying field. Really there is no reason for a third party to broker the deal anymore. You can find most listings online with filter buttons. Also There are too many lackluster Realtors anyway. Try asking them basic questions about plumbing, structure or electrical. Many of them don’t seem to know but they will be happy to tell you what color the wall would look good in once you buy it. You don’t need to pay 6% for that..

[jamey]

This is not good for buyers. Sellers aren't going to decrease prices just because they don't have to pay buyer agent commission.

[Alonzo]

About time! I sold my 700k house and had to pay almost 50k in fees, ridiculous!

[JosephBallarino]

This report is inaccurate I do not even know where to start. Horrible, horrible reporting. So much wrong information it is ridiculous.

[daviddruggish]

I've always said they were over paid. Adding unnecessary costs to the purchase of a home.

[alexanderhamilton]

Of course this happens as I am in the middle of obtaining my California Real Estate License.

[iCanCode-jxyw]

REALTOR FEES ARE NOT PASSED ON TO THE BUYER! Realtor services have always been FREE for the buyer. If anything this is bad news for buyers because Realtors will need to make up for the loss of income that this "law" is impacting. Realtors will either need to transfer the other half of the fee responsibility to buyers who will need to have even more money to bring to a real estate transaction BEFORE closing or Realtors will start up-charging sellers for services that have traditionally already come with the 6%. This new law will do nothing but ultimately hurt buyers and sellers.

[rickrudd]

This will have ZERO impact on housing prices.

[TrailFire]

I have always said if you want to make alot of money for little effort become a realtor. This is long overdue

[SlimMichaelSpaghetti]

Good because you're taxed many times as seller or buyer on the same money

[iamjawknee]

I don't think people realize the amount of work realtors do to sell a property. What's next, not paying your attorney?