Big Change Coming, Commission Lawsuit

[Joshua Ricker]

Hello BP Agents,

Has anyone been watching the commission lawsuits? MLS PIN settled for $3 million and to stop requiring sellers to offer buyer-broker compensation. There are even more lawsuits going on and there are predictions they will possibly prohibit sellers to pay any buyer-broker compensations going forward as worse case. Not worse case would be seller has the choice.

This will be a huge impact on the business.  We had a meeting this morning about it, also have been preparing.  What is everyone's thoughts going forward if the change does come?  I attached the article in the link below.

Check out the article here

[Wayne Brooks]

I think sellers will still Choose to offer buyer agent/seller agent splits….otherwise it will inherently hurt their chances of selling in the market, the same as listings in the past offering lower buyer agent commissions have done. If this does become widespread, buyer agents with buyers willing to pay their part of the commission will get better deals, due to less competing offers on those “no buyer agent commission” listings.