National Association of Realtors verdict.

I'm willing to bet that more money will be spent on lawyer's fees than was going to realtors. No more standard forms (those were created by NAR) means contracts created by lawyers that need to be scrutinized by other lawyers. Sellers who think they're smarter than everyone trying to keep deposits for minor things. House sales will get tied up in court instead of closing.

There are a lot of bad realtors out there, but there are also a lot of good ones. NAR isn't perfect (far from it!), but reform would have been a much better option.
 
Buyers agents are typically paid by the seller. As a buyer, there is no downside to having an agent since it's paid by the seller so most people will use one. Buyers agents are able to steer the buyer to particular houses and are more likely to pick a house with a higher sale commission which has kept the traditional 6%; most sellers are afraid to negotiate the commission because they don't want buyers agents to shun their property.

When I bought my house, my wife made all the calls and did all the work that the agents should have done. We are currently shopping for an airplane and I'd much rather deal with an owner than a broker. The three we have called didn't know their product, lied to us, and got in the way of making a deal. One of them must use AI to improve the listing photos... the leading edge needs paint but the photo and video show it looking perfect, another has wildly incorrect times listed (still incorrect a month later), and I called out the third on being a flat out liar. At this point, I'm starting to think I should get a discount for having to deal with a broker.
 
Back
Top