Maybe high realtor commissions will come down now. Would you really care if your U.S. realtor shows up in a Civic instead of a Cadillac?
Maybe high realtor commissions will come down now. Would you really care if your U.S. realtor shows up in a Civic instead of a Cadillac?
is it a requirement to have a realtor or is just just a massive convenience factor, if it’s a requirement I would be for a restriction to force flat rate but, if it’s optional I would say just find one that wasn’t commission based
The article is about an org that controls the industry standard house listing service, that will not list your house if you dont agree to the commission structure,whixh excludes the vast majority of buyers.
The jury found that they were applying monopolistic power. Its not literally required, but it’s actually required.
The thing is, whether or not an agent is a member of NAR, commissions have always been negotiable (maybe the real problem is that sellers don’t know this and don’t try to haggle). Agents could always choose to take less commission if they wanted to. But would you voluntarily take lower pay for no particular reason?
This “agents can now charge less in commissions” is BS because they always could. It changes nothing.
It’s not required, but it’s a bit like a cartel. You can’t get listed in the MLS without a realtor. Many buyers agents also avoid any for sale by owner properties.
If you still want help with the home buying process a lawyer can write up a contract for a few hundred dollars. Similarly as a seller you can have a lawyer review offers.
You can get listed without a realtor but it’s not easy.
I did just that when I sold my house in 2006… Had very few potential buyers interested though and after it sat on the market for way too long I ended up eventually selling it to a friend / former employee and walking away with virtually nothing to show for over 5 years of equity.
Required in most states afaik