04/10/2024
There’s so much talk about settlement, where they are taking the buyer’s agent commission off of the mls, where homes are listed for sale, but it’s a terrible idea for buyer and sellers alike! It’s actually super counterintuitive to all parties involved, especially in California where you are dealing with multimillion dollar properties and entire lifesavings at stake. Buyers need a good agent to guide them through the daunting process of searching, offering, negotiating and buying a home. There’s no way around it. Seller’s agents do not have buyer’s best interest at heart! They have seller’s interest top of mind - their duty is to get the seller the most money! They are not there to give you a deal! So if the people suing NAR think doing away with a buyer’s agent commissions (essentially doing away with buyer’s agent in general, since buyers will not be able to come up with this cash and no-one can work for free 🙈) will somehow lower the prices of homes, they are delusional! All this will do is make sellers mad at their own agents who also have to rep the buyer, make buyers feel like they are unrepresented and didn’t get the best deal, and make a ton of very qualified agents leave the industry. There is no win in this for anyone! We think seller’s should ALWAYS still continue to pay a buyer’s agent in order to get the most money on their home, have the smoothest escrow and get the most qualified, serious buyers to offer on your home. We also think smart agents repping sellers will still find a way to list commissions in public places (like private remarks, their own IGs and websites, etc!) Where there is a will, there is a way! 💪🏼
