Real Estate Agent · Washington DC · Member since 2016 · 847 posts · 656 votes
For those unaware just this morning NAR agreed to settle its antitrust suit, beginning in July sellers will no longer pay buyers agents. The implications of this are extraordinary far reaching imo, however I want to focus on something much simpler, Buyers, what would you think is a far rate to pay your buyers agent out of pocket, or possibly rolled into your loan? What would be a fair commission, would a fixed rate be better? Would paying by the hour be better, if so how much? Would you pay for experience or expertise? Would you forgo the buyers agent all together and work directly with the sellers agent? Any other thoughts or comments? I want this to be a thread hopefully of use to agents and buyers in this new world to figure out new pricing strategy's so I would like to ask that this doesn't devolve into a discussion about that facts of the case or if the ruling is fair etc.
For those unaware just this morning NAR agreed to settle its antitrust suit, beginning in July sellers will no longer pay buyers agents. The implications of this are extraordinary far reaching imo, however I want to focus on something much simpler, Buyers, what would you think is a far rate to pay your buyers agent out of pocket, or possibly rolled into your loan? What would be a fair commission, would a fixed rate be better? Would paying by the hour be better, if so how much? Would you pay for experience or expertise? Would you forgo the buyers agent all together and work directly with the sellers agent? Any other thoughts or comments? I want this to be a thread hopefully of use to agents and buyers in this new world to figure out new pricing strategy's so I would like to ask that this doesn't devolve into a discussion about that facts of the case or if the ruling is fair etc.
This is going to be really interesting. It does not change how I approach-- listing agent. Just changes now how much out of pocket seller & I will agree to for that listing agent. I feel like giving the listing agent's a hair more may be the best of both worlds, but that's the most plain sighted answer.
I will say like anything-- the best agents will get all the money, the bottom agents will step out and the middle agents will really need to sink or swim here. Most agents on here are doomed.
Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
2y
I have always paid my buyer's agent myself unless it was an MLS deal. Can't trust the seller's agent if you are a buyer. 2-3% is what I have offered and that has been fine. If I am interested in a property I call my agent, generally one of two people.
I only focused on my area when I was buying so it worked well for me and the agent. All the best!