2023 Real Estate Observations (Boston, Newton: contract, proposed, addition)

[matrix5k]

Originally Posted by massnative71

Then the entire commission goes to the seller's agent, who is looking out for the seller's interests and not yours. Not the smartest. You want somebody representing you as well.

Then the seller is more likely to push my lower offer before a bidding war starts. It's a win win situation. Probably saved me 50-75k.

[msRB311]

Originally Posted by matrix5k

Yeah it's normal for prices to slow down in fall. Let's see if prices drop in the spring. I don't think they will, neither do the experts.

https://finance.yahoo.com/news/housi...191734802.html

probably not. MA seems to be the place the poor and the wealthy flock to

[massnative71]

Originally Posted by matrix5k

Then the seller is more likely to push my lower offer before a bidding war starts. It's a win win situation. Probably saved me 50-75k.

You're fooling yourself it you think the seller's realtor is going to split the difference with "you". Not to mention 50-75K. ROTFL

[matrix5k]

Originally Posted by massnative71

You're fooling yourself it you think the seller's realtor is going to split the difference with "you". Not to mention 50-75K. ROTFL

I didn't say anything about splitting a difference.

You clearly did not understand what I said so I'll break it down for you with an example.

House is listed for 600k.

I call the selling agent and offer 610k, dual commission.

Agent convinces seller to accept the offer and cancels the open house.

I pay 610k instead of 660-685k because there's no bidding war.

[massnative71]

Originally Posted by matrix5k

I didn't say anything about splitting a difference.

You clearly did not understand what I said so I'll break it down for you with an example.

House is listed for 600k.

I call the selling agent and offer 610k, dual commission.

Agent convinces seller to accept the offer and cancels the open house.

I pay 610k instead of 660-685k because there's no bidding war.

If the seller can get $660-685K from a bidding war, you really think they are going to accept the first offer that comes along for $10K over (buyer's agent or no buyer's agent)??? You are living in a fantasy world if you think so.

[simplexsimon]

Originally Posted by massnative71

If the seller can get $660-685K from a bidding war, you really think they are going to accept the first offer that comes along for $10K over (buyer's agent or no buyer's agent)??? You are living in a fantasy world if you think so.

Yeah, it assumes the seller's agent is working for the buyer. I'm not saying it doesn't happen, but it's the type of incentive imbalance that the lawsuit is trying to correct. The shrewd seller can see from the settlement statement who gets how much of the commission.

[yesmaybe]

Originally Posted by massnative71

If the seller can get $660-685K from a bidding war, you really think they are going to accept the first offer that comes along for $10K over (buyer's agent or no buyer's agent)??? You are living in a fantasy world if you think so.

Yes... plenty of sellers agents are mainly after getting the sale completed ASAP.

[robr2]

So now buyers who are often right on the edge of being able to afford the house now have to find another 3% to pay their agent?

What I see happening is that listings will be kept in house to keep the "buyer" half of the commission, commission will stay at4-6% for the selling agent, or sellers are going to be asked to rebate 2-3% at closing to cover the buyer's fee.

[newenglandgal123]

Originally Posted by robr2

So now buyers who are often right on the edge of being able to afford the house now have to find another 3% to pay their agent?

What I see happening is that listings will be kept in house to keep the "buyer" half of the commission, commission will stay at4-6% for the selling agent, or sellers are going to be asked to rebate 2-3% at closing to cover the buyer's fee.

Couldn't the seller always say no, sorry Mr. Buyer I'm not paying your agent but I'd be happy to sell you the house directly? What would prevent that from happening?

[matrix5k]

Originally Posted by massnative71

If the seller can get $660-685K from a bidding war, you really think they are going to accept the first offer that comes along for $10K over (buyer's agent or no buyer's agent)??? You are living in a fantasy world if you think so.

Wow each post of yours just shows more ignorance.

If I go straight to the seller agent, they get DUAL commission like I said. They make more despite the lower selling price.

5% of 610k is 30.5k.
3% of 685k is 20.6k.

The selling agent makes more, I save 50-75k. The seller gets a quick closing and doesn't have to host an open house or two.

This is not fantasy, this is what I did when I bought my house. Yikes.

No wonder you can't comprehend why someone would finance a car 100% with 3.49% interest rate.