Are realtors done? No more 6% commision
- Thread starter djthegreat88
- Start date
UpAndComing
Veteran
Yeah I don't know why people are automatically thinking this will hurt Real Estate agents. This could indirectly encourage Real Estate agents to charge higher fees and not be restricted by the 6% commission barrier
Lot of haters in here. Yes some realtors don't really do shyt but I learned alot from the ones I've met.
This is only going to make it harder for alot of buyers in markets where large investors and cash buyers dominate
This is only going to make it harder for alot of buyers in markets where large investors and cash buyers dominate
Trojan 24
Veteran
Good, all these c*nts taking a 2 month realtor course and pretending online they closing deals daily
Man STFUWait so they get 6% automatically off the cut of the house that is sold???
I do believe the number of realtors is oversaturated. It's people that haven't sold a home in 3yrs but still calling themselves realtors. This won't affect the more established ones. They have a healthy amount of clientele and word of mouth to keep it rolling. The newer ones and the lazy ones are just going to have to hustle more now. Especially if someone can charge a lower rate to undercut you
Realtors aren’t done based on this. However, the decision will likely wash away a lot of the Realtors that have made the industry over saturated. I can actually seeing many of the top producers start making more money than they have before.
Sadly enough, I would say the real losers in this situation are buyers. This settlement has now made it even more expensive for them to buy a home now that they are responsible for their agents fees. Specifically, buyers shopping in lower price points, depending on down payment assistance programs, and first time buyers are going to feel it the most. High end buyers won’t be impacted much if any at all.
All in all, this is a loss for Realtors and buyers on the lower end of the spectrum.
Sadly enough, I would say the real losers in this situation are buyers. This settlement has now made it even more expensive for them to buy a home now that they are responsible for their agents fees. Specifically, buyers shopping in lower price points, depending on down payment assistance programs, and first time buyers are going to feel it the most. High end buyers won’t be impacted much if any at all.
All in all, this is a loss for Realtors and buyers on the lower end of the spectrum.
Never did real estate sales, but my boy did, and I was around that industry.
Buying agent is frustrating because you will work and work and work with no real contract or agreement, send people houses, send people listings, set up viewings, and in the end, they go with someone else, or end up directly with the selling agent. but they also want you to earn that commission, which is fair, but they don't view like part of the game, it's like they want to see you dance sometimes. Like they resent if it's too easy.
depending on how you know them, obviously close friends and family will stay with you, but random walk in's and referrals and medium leads, usually won't.
heard all the stories of spending all day with a family driving them around only for them to disappear. Not sure I understand how the settlement came about, was this a class action lawsuit, brought by a private attorney/firm? Or the Justice Department ANTI TRUST division
Buying agent is frustrating because you will work and work and work with no real contract or agreement, send people houses, send people listings, set up viewings, and in the end, they go with someone else, or end up directly with the selling agent. but they also want you to earn that commission, which is fair, but they don't view like part of the game, it's like they want to see you dance sometimes. Like they resent if it's too easy.
depending on how you know them, obviously close friends and family will stay with you, but random walk in's and referrals and medium leads, usually won't.
heard all the stories of spending all day with a family driving them around only for them to disappear. Not sure I understand how the settlement came about, was this a class action lawsuit, brought by a private attorney/firm? Or the Justice Department ANTI TRUST division
ORDER_66
Demon Time coming 2024
SadimirPutin
Superstar
They ran up a bag during Covid.....they will be alright 
I will add one other thing - 6% was never a commission rate that was set in stone. Every seller (party that typically negotiated commission prior to this settlement) had the opportunity and right to negotiate what commission they were willing to pay. What this settlement has changed is that the seller will no longer pay the buyer’s agent.
I know Realtors that are considered discount brokers and charge 4% (with 3% going to buyers agent) and top producers that charge 7% (3.5% for each side). As it is with any other industry in the world, you typically get what you pay for.
I am pretty confident that the Realtors that only
Focus on the luxury market out here ($1 million +) are not sweating this settlement. Those sellers and buyers understand the Realtors value in the real estate process and will continue to retain their services.
Again, those that are saving/struggling to buy homes will be hurt the most and that is very unfortunate. They will either try to go through the process unrepresented (like going to court without an attorney) or settle for bottom of the barrel tier agents.
I know Realtors that are considered discount brokers and charge 4% (with 3% going to buyers agent) and top producers that charge 7% (3.5% for each side). As it is with any other industry in the world, you typically get what you pay for.
I am pretty confident that the Realtors that only
Focus on the luxury market out here ($1 million +) are not sweating this settlement. Those sellers and buyers understand the Realtors value in the real estate process and will continue to retain their services.
Again, those that are saving/struggling to buy homes will be hurt the most and that is very unfortunate. They will either try to go through the process unrepresented (like going to court without an attorney) or settle for bottom of the barrel tier agents.
Is this a troll or is that really her last name?Damn that sucks for them....Back to bottle girl/stripping they go I suppose
