This was going to be the big test. The controversial local brokerage in Los Altos was offering a measly $10,000 commission to the buyer-agents on their listings, most of which were $4,000,000 and up. They listed a similar house on a quiet street about a mile away for...
In January, 30% of the NSDCC sales offered less than a 2.5% commission to the buyer-agents, and in February it was 25%. Since the NAR settlement was announced on March 15th, 40% of the listings are offering less than a 2.5% commission to the buyer-agents. There isn't...
Most people think that the lawsuits are going to cause lower commissions, but if that happens, it will be in conjunction with the buyer-agents being eliminated. I'm calling it single agency for now. Here is this week's installment on the evidence supporting my theory....
In this new listing, Berkshire Hathaway agents are boldly offering no commission at all to the buyer-agents, and instead suggest that we take it up later - which leaves the amount uncertain, at least for now. It has the potential to be anything from 3% to zero. Will...
From the CEO of a large Sotheby's brokerage based in Florida: Last week the National Association of Realtors announced a settlement agreement in the Sitzer Burnett case that would take effect in July. For those who missed the declarations in the media that this...
Nobody was overcharged, but the media will feed the hysteria for another week or two with baseless claims and lies just to attract more eyeballs! Meanwhile, buyers are hurrying up their quest to buy a home before they have to pay their agent's commission! Hat tip to...
The conspiring events - softer market, fewer and less-experienced agents, and lower commissions - are all leading us to the same place: The destruction of the traditional model of residential real estate sales will be triumphed by the unknowing, but it will be the...
Oh, you're going to get lower commissions alright - on the backs of the buyer-agents. The last time I checked a couple of months ago, there were 30% of the monthly closed sales that offered a buyer-agent commisssion under 2.5 percent. Of the 92 closings so far this...
Every realtor-related entity is scrambling right now to train agents how to get their buyers to agree to a contractual relationship where the buyer pays the buyer-agent commission. It would all be well and good - and be similar to the listing agreement we have with...
The reporting on the NAR settlement seems to be focused on creating hysteria, rather than finding the truth. Realtors commissions have always been a juicy topic, and the media is intent on using this opportunity to fabricate wild and salacious stories to attract the...
