1. How will the recent lawsuits affect real estate commissions? -Everything they are asking to be changed is already in place now and has been for some time. -Buyer brokerage agreements have been in place for 30 years. Some agents have chosen to use them, and some haven’t.
2. If everyone uses a buyer broker agreement, how will this change things? -Now buyers will be treated with the same professional respect as sellers & they should choose to interview several agents before they choose one.
3. Will commissions be more negotiable going forward? -Commissions have always been negotiable, just like everything else in a real estate deal. -While everything is negotiable, there still are “standard practices” which lead us to the current pricing structure.
4. Can sellers not offer a commission to buyers’ agents? -Yes. They’ve had this choice all along, but, if they don’t, the buyer will have to consider this in their offer.
