Big changes coming to real estate industry on Aug. 17, here’s how it could affect you

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[miketracy]

IT SURE SOUNDS GOOD TO HAVE LOWER COSTS, BUT IN THE END, BOTH LAWYERS AND REALTORS EARN WHAT THEY ARE WORTH TO THEIR CLIENTS.
A GOOD NEGOTIATOR IS WELL WORTH THOUSANDS OF DOLLARS FOR BOTH BUYERS AND SELLERS.
THERE WILL BE UNINTENDED CONSEQUENCES THAT MAY HARM SOME CUSTOMERS, SO BE CAREFUL WHAT YOU WISH FOR.

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2:44 Cut to the chase. The lawsuit says people listing their houses for sale no longer have to pay the Buyer's Agent's commission. They can pay it, but they can choose to save the thousands of dollars and not do it. If you listen closely, you hear the industry expert even say now buyers may be able to pay the commission they will owe their Buyers Agents by rolling up in their mortgage. That's right. They're talking about buyers adding on the commission a buyer would owe to their loan amounts. In the past if you wanted to look at a house, you called an agent and they showed you some homes. Now it is required Buyers sign an agreement with their Agent agreeing to how much the Agent will be paid in commission if you purchase the home - and the buyer is now responsible for this since the new lawsuit says the Seller no longer is required to pay it.