11/10/2023
You've no doubt heard about the verdict that NAR colluded to inflate commissions and somehow ripped off sellers of some 500,000 Missouri home sellers that closed on their sales years ago and the court threw out all of the completed contractual agreements where all parties have already been paid.
I do not think this will hold up.
Sellers have always had a choice to negotiate commission and if they wish to offer commission for a buyers agent to bring them a buyer. The listing agent lists and markets a property. A buyers agent, helps find the property, set appointments, consult on comps to prepare an Offer, submits offers, responds, prepares addendums or ammendments as needed, calendars all disclosure deadlines, makes sure the buyer receives all disclosures, checks zoning if needed, works with the loan officer as needed, is the source for sources regarding crime stats, or where to get all the services needed when buying, all the things the buyers never see. This verdict is inaccurate. It will be over turned. Sellers want to sell. The new verdict makes it so basically they have a pocket listing on the MLS. but no one will see it because once the buyers agent tells their buyer that they will be responsible for their fee, on a particular home that isn't offering a fee, the buyer will most likely move on to a house that is offering to pay the buyers agent, same as when they ask the seller to pay some of their loan points or offer money towards their closing. Now they will ask the buyer to pay for their own buyers agent and guess what? The house just became even more expensive and it won't be included in the appraisal so it will be a hard cost on top of the house and down payment.
https://www.nar.realtor/magazine/real-estate-news/nar-real-estate-compensation-lawsuits-far-from-over
