Check your facts. NAR has offered to settle. It still has to be approved by the court.
Real estate commissions have always been negotiable! There is no "set" or "standard" fee that is required by NAR or a MLS. A specific agent might have a fee that they traditionally charge, but they must be willing to negotiate... or you can just use a different agent that will.
However, you get what you pay for. If you pay them too little, they will not have the money to market your property effectively. Because, yes, they pay for that out of the proceeds of the commission.
The fee seems higher because, traditionally, "you are paying for the buyer's agent." You might want to consider that "extra money" an incentive for the buyer to purchase YOUR house as opposed to SOMEONE ELSE's house.
Were you ever a home buyer? Did you have to pay your agent? If not, who did? Was it in your loan? - Not if you are a veteran who used a VA backed loan, because that is illegal! Do you want to keep a buyer who does not have the extra money to pay their agent out of pocket from buying your home?
Do you get to negotiate your doctor's fees? Your lawyer's? Your tax preparers? And how much do you pay them? Think about it! If you want to use a professional to buy or sell, you are responsible to pay a professional's fee. States like Virginia require agents to have a buyer's agreement that lays out their responsibility to pay the agent. If the seller is kind enough to offer an incentive such as paying part or all of the buyer's agent fees or other closing costs, the buyer is both blessed and relieved.
Just because NAR is eliminating the requirement to cooperate by paying the buyer side agent costs does not mean that it is not a good idea to put the money out there or entertain negotiations that help a buyer purchase your property.
