The new changes could prompt more buyers to go without hiring an agent at all. That would mark a departure from current practice, with more than 90 percent of buyers and sellers working with an agent, according to the NAR.
If they do opt for an agent, buyers might vet several candidates first to compare services and costs, since they have flexibility to negotiate the agent’s commission. But they should also remember they probably won’t know in advance of making an offer whether the seller will pay the commission of the buyer’s agent — so that payment is likely to become part of purchase negotiations, Luong said.
1. Good luck going FSBO. You do all the work, even though you already have a job.
2. Commissions? You will pay them and nothing changes
3. See point #1
“Good luck going FSBO.”
You article quote references buyers’ agents.
My prediction is that within five years you’re going to see fixed real estate commissions — just like you have fixed legal costs for closings, fixed brokerage fees for securities trades, etc. In fact, they won’t even be called “commissions” anymore, but realtor fees.
It's the agent who already has a job. Numerous other houses -- and that's probably just a part time job. I don't sit around wondering how much attention an agent gives my property, or whether he gives it none until someone happens to notice it. FSBO is all I do, and it doesn't require luck, unlike hiring an agent.
And with FSBO I don't have to sit around wondering if the bank will approve of the buyer or the property. No bank wastes my time and no agent wastes my time and money.
Sold our first house with FISBO. Paid an attorney a small fee for the contract stuff. Saved thousands with no agent. Good experience. Can’t imagine giving an agent tens of thousands to sell our current house. Spouse is pretty sure she wants to do FISBO again. I’m not so sure, but yeah, that commission is ridiculous.
I mostly sell or buy without agent
Relative had someone approach him about having relative buy his house.
I helped them navigate the sale of relatives current house and purchase of his friends house. No agent. Good lawyers. Done deals.