Real Estate is on the move! Sellers are no longer must pay buyer agent commission.

[Shervin Golgiri]

Hopefully this is not some news to you, but sellers are no longer having to pay buyer agent commissions, now is a Choice, which might be confusing, but there is nothing to worry about. still, it doesn't change the fact that to maximize profit, it's wise for sellers to offer a buyer agent commission, attracting more qualified buyers to the listing. and for buyers, the main change is the need for a few extra forms and agreements before viewing properties. 

If you ask, "What really changes!?" in my opinion nothing beside what I have mentioned.

Cheers!

[Lindsey Mannix]

It's always been a choice. I think that there is a misconception out there that it wasn't a choice before. Commissions have always been a point of negotiation :-)

~ Lindsey

[Matthew Paul]

@Shervin Golgiri Seller not paying buyers agent commission wont have any bearing on finding qualified buyers in a sellers market .  The buyers will just have to negotiate with their agent on what fee they will be paid and how it will be paid . 

I just sold my house , agreed on a price but told the buyers agent to add their commission to the sales price in a fixed dollar amount . The agent now had to go back and negotiate with their client for $$$ . I got push back from the buyers agent asking me if I was going to tank this deal for a bit over 10 grand , I told him , no , but you are .   

[Shervin Golgiri]

Quote from @Matthew Paul:

@Shervin Golgiri Seller not paying buyers agent commission wont have any bearing on finding qualified buyers in a sellers market .  The buyers will just have to negotiate with their agent on what fee they will be paid and how it will be paid . 

I just sold my house , agreed on a price but told the buyers agent to add their commission to the sales price in a fixed dollar amount . The agent now had to go back and negotiate with their client for $$$ . I got push back from the buyers agent asking me if I was going to tank this deal for a bit over 10 grand , I told him , no , but you are .   

This is a prime example why is better to consider coop commission when you're listing your property. You're Pushing your potential buyer/buyers to possibly walk away if they can't find solution. more often than not the money you end up missing on, exceeds the 1%-2% coop commission you're trying to save.  That strategy simply not going to be beneficial for either party. Hopefully you got to the closing table. 

[Mohammed Rahman]

I completely agree. The market/media perception of this is so skewed it boggles my mind. 

I'm a broker, but also an investor. I trade properties and broker them too. 

Any seller would be incentivized to offer a buyer commission (unless they're in a. tough financial position) because otherwise their neighbor's house will sell faster than theirs. 

Any good buyer understands the value of a great buyer's broker to negotiate on their behalf. 

I think a lot of this has come out due to the low standard of brokers out there that give the industry a bad name unfortunately... its so easy to get a license nowadays. 

[Max Ferguson]

Quote from @Shervin Golgiri:

Hopefully this is not some news to you, but sellers are no longer having to pay buyer agent commissions, now is a Choice, which might be confusing, but there is nothing to worry about. still, it doesn't change the fact that to maximize profit, it's wise for sellers to offer a buyer agent commission, attracting more qualified buyers to the listing. and for buyers, the main change is the need for a few extra forms and agreements before viewing properties. 

If you ask, "What really changes!?" in my opinion nothing beside what I have mentioned.

Cheers!

Not sure what the point of this post was with the incorrect information. Always was a choice, always was a negotiation....? 
Maybe I'm misunderstanding.

[Matthew Paul]

Quote from @Shervin Golgiri:

Quote from @Matthew Paul:

@Shervin Golgiri Seller not paying buyers agent commission wont have any bearing on finding qualified buyers in a sellers market .  The buyers will just have to negotiate with their agent on what fee they will be paid and how it will be paid . 

I just sold my house , agreed on a price but told the buyers agent to add their commission to the sales price in a fixed dollar amount . The agent now had to go back and negotiate with their client for $$$ . I got push back from the buyers agent asking me if I was going to tank this deal for a bit over 10 grand , I told him , no , but you are .   

This is a prime example why is better to consider coop commission when you're listing your property. You're Pushing your potential buyer/buyers to possibly walk away if they can't find solution. more often than not the money you end up missing on, exceeds the 1%-2% coop commission you're trying to save.  That strategy simply not going to be beneficial for either party. Hopefully you got to the closing table. 

 Well it worked for me . Sure some buyers cant swing the numbers if they cant , they lose out on the house , but there are plenty that can . In the end the buyers are paying the buyers agent anyway , either by a higher house price or they are writing a check . 

@Shervin Golgiri I am in a sellers market , little inventory , very popular area , A+ rated schools . Not in everyones price range . I get it everybody has to make a buck , but I didnt hire the buyers agent , what ever they want to charge THEIR customer is fine with me , but I wasnt paying it .  2.5% sounds like a low number until you put it into real numbers on a $800k sale and you see it as  $20,000 .  All I did was tell the agent to go back and negotiate with his buyers on his pay , if they think you are worth it  then tack it on to the price .  In the end he made less than he wanted , but more than if the deal didnt go thru . ( He didnt like me much , but I am not in the business to make friends , I am in the business to make money ) . If it were a buyers market , maybe things would have been different . 

[Shervin Golgiri]

Quote from @Max Ferguson:

Quote from @Shervin Golgiri:

Hopefully this is not some news to you, but sellers are no longer having to pay buyer agent commissions, now is a Choice, which might be confusing, but there is nothing to worry about. still, it doesn't change the fact that to maximize profit, it's wise for sellers to offer a buyer agent commission, attracting more qualified buyers to the listing. and for buyers, the main change is the need for a few extra forms and agreements before viewing properties. 

If you ask, "What really changes!?" in my opinion nothing beside what I have mentioned.

Cheers!

Not sure what the point of this post was with the incorrect information. Always was a choice, always was a negotiation....? 
Maybe I'm misunderstanding.

Yes, you're correct. While commission has always been negotiable before the NAR settlement, agents didn't need to disclose their commission to buyers. Soon, agents won't be able to see co-op commissions in the MLS, which has led to misconceptions and gray areas. I wanted to shed light on this matter. Just sharing my thoughts and perspective on this.