Here we go!

This week, we’re going to find out more about the DOJ’s stance on home sellers paying commissions to the buyer-agents. Finally!

Everyone agrees that sellers can choose to pay NO commissions. Heck, you don’t have to hire an agent to sell your house – go stick a for-sale sign in your front yard and see what happens.

But sellers should not be prevented from paying an incentive if they believe that is what’s best for them, and that it will get them what they want.

This is where NAR has failed miserably, and the big brokerages have no other choice but fight for what’s right. It’s anti-American to forbid people from spending their money however they want – especially when commissions have always been negotiable.

The DOJ has said that they want commissions to be ‘decoupled’. If they force home buyers to pay for their own agent, how much will be comfortable? Maybe one-half percent? Or maybe 1%? The job is too tough and it takes too long to work for 1%. Good agents won’t do it, and it will force buyers to go direct to the listing agent instead.

Unrepresented buyers will be the worst thing that ever happened to home sales. But nobody sees it coming, and by the time it becomes obvious, it will be too late.

Hopefully somebody will intervene with an auction format instead!

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Jim the Realtor
Jim is a long-time local realtor who comments daily here on his blog, which began in September, 2005. Stick around!

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