Unlike some people, I don't see this change saving people money overall. It will likely add complexity for both sellers and buyers, and shift many payments from the seller side to the buyer side. I think it will end up hurting inexperienced home buyers, adding costs and decisions.
I expect that listing agents will begin to market their services in tiers, adding either percentages or flat fees for pictures, videos, advertising, open houses, extra months on the market, etc. Home buyers, especially inexperienced ones, will have to negotiate with buyer agents to educate them, show houses, negotiate offers, etc. I guess both listing and buying agents will start to offer their services in cost tiers or by the hour.
Another factor is that sellers are making money in the end, and are usually more able to pay a fee or commission. Many buyers, especially first-time buyers, struggle to come up with a down payment and closing costs as it is. Adding on another couple of percent will just make it harder.
I expect that listing agents will begin to market their services in tiers, adding either percentages or flat fees for pictures, videos, advertising, open houses, extra months on the market, etc. Home buyers, especially inexperienced ones, will have to negotiate with buyer agents to educate them, show houses, negotiate offers, etc. I guess both listing and buying agents will start to offer their services in cost tiers or by the hour.
Another factor is that sellers are making money in the end, and are usually more able to pay a fee or commission. Many buyers, especially first-time buyers, struggle to come up with a down payment and closing costs as it is. Adding on another couple of percent will just make it harder.
Statistics: Posted by deanbrew — Sun Mar 17, 2024 9:39 am — Replies 15 — Views 1423