I'm planning to get my Real Estate in Massachusetts soon this year and with the National Association of Realtors agreed to dropping the 6% commission rate, is this still a good idea? Is being an agent worth it?
Real Estate Agent · San Antonio, TX · Member since 2019 · 1k+ posts · 832 votes
2y
It might still be worth becoming a real estate agent depending on your focus area.
1. You can focus solely on listings (sellers).
2. Buyers roll their agent commission into the loan. We might see buyer agent commission rolled into loans as a standard practice in the coming months and years. Right now, not all lenders allow this.
I have my real estate license, but I'm not as concerned since my focus/purpose is not on being a buyer's agent.
Real Estate Agent · San Antonio, TX · Member since 2019 · 1k+ posts · 832 votes
2y
It might still be worth becoming a real estate agent depending on your focus area.
1. You can focus solely on listings (sellers).
2. Buyers roll their agent commission into the loan. We might see buyer agent commission rolled into loans as a standard practice in the coming months and years. Right now, not all lenders allow this.
I have my real estate license, but I'm not as concerned since my focus/purpose is not on being a buyer's agent.
I'm planning to get my Real Estate in Massachusetts soon this year and with the National Association of Realtors agreed to dropping the 6% commission rate, is this still a good idea? Is being an agent worth it?
Let me know your thoughts!
There's 3 or 4 threads going on in the forum regarding the NAR settlement. I'd suggest lurking and learning, maybe make some popcorn too ;-)
Realtor · Boston, MA · Member since 2014 · 159 posts · 75 votes
2y
Hello @Salina Doe, I think it is still a good idea as there are many other areas of focus in real estate. There is commercial, there are rentals and investments and as @Hamp Lee III mentioned, you can focus solely on listings and not buyers. For anyone who has focused on just buyer agency, they will just have to pivot and adapt to the changing climate around them.
Real Estate Agent · Chicago, IL · Member since 2017 · 2k+ posts · 2k+ votes
2y
Commisions were always negotiable and you always could put $1 co-op for buyers agents. Nothing really changed $0 vs $1 I bet listings still for most part offer co-op and if not lenders would cover it, etc. If you want to become a realtor still do it! Focus on a niche like house hacking and people will be willing to pay you for your niche knowledge even if the more general agents do suffer (which I doubt happens either).