This is huge - A federal jury fined 1.8 Billion Dollar to the three top RE Agents agency for colluding and keeping the Agent fees to 6%. This is just a verdict from one state, but similar verdicts will be followed in other states. The main argument is that Agents collude and steer away the buyers from houses which has less commissions or no commissions. Zillow, Redfin, Compass, Opendoor shares fell by upto 10% on this news. If this continues, it can reduce the Agent fee and bring down the property prices as that is part of the Sale price. https://www.axios.com/2023/10/31/nar-lawsuit-brokers-fees-verdict-sitzer-burnett
No one pays 6% anymore. Most pay 2% each to both agents.
Yeah I'm with @buttsex
6%?!! that’s robbery! I would never EVER pay an agent more than 2% MAX!
6% total, 3% to each agent. Very common I think.
All you have to do is to say buyers pay buyers agent commission. That will fix a large part of what ails the housing industry
Since when weren't agent fees negotiable? If anything these days, there's desperate and hungry agents.... Now, would I want an agent who's that desperate representing me...depends lol
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This is good news to both buyer and seller. Only bad to agents, good riddance