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Old 04-08-2024, 07:28 AM
 
Location: Columbia, SC
10,966 posts, read 21,972,507 times
Reputation: 10659

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Quote:
Originally Posted by MikeJaquish View Post
@ 100 bucks each, wouldn't the MLS directors just consider a one time assessment?
Or bake it into a fee increase. I wouldn't be shocked if some private MLS that are profit minded use this as an excuse to raise the fee and they'll make more in the long run than as a one time assessment. And they'll do it under the guise of "This is better because we aren't charging you one large payment, we're allowing you to spread out the payment over time."
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Old 04-09-2024, 09:39 AM
 
7,269 posts, read 4,209,432 times
Reputation: 5466
DOJ to intervene in Realtor lawsuit/settlements:



https://www.housingwire.com/articles...-kbw-analysts/
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Old 04-09-2024, 09:51 AM
 
Location: Salem, OR
15,572 posts, read 40,409,288 times
Reputation: 17468
Quote:
Originally Posted by MikeJaquish View Post
@ 100 bucks each, wouldn't the MLS directors just consider a one time assessment?
Probably. It would be higher because of attorney costs and such, but I can see them charging a fee per head.
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Old 04-09-2024, 10:11 AM
 
Location: Cary, NC
43,265 posts, read 77,043,330 times
Reputation: 45612
Quote:
Originally Posted by illtaketwoplease View Post
DOJ to intervene in Realtor lawsuit/settlements:



https://www.housingwire.com/articles...-kbw-analysts/
No Paywall here:

https://finance.yahoo.com/news/doj-i...175725386.html
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Old 04-09-2024, 10:15 AM
 
Location: Salem, OR
15,572 posts, read 40,409,288 times
Reputation: 17468
Quote:
Originally Posted by MikeJaquish View Post
The DOJ wants to make it so that the sellers can't offer any compensation. They want to make that illegal. They don't care if the fee gets negotiated in the offer, but they want the buyer to negotiate the fee because they don't think buyer agents will be able to justify their high fees to buyers. They are right about that.
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Old 04-09-2024, 10:31 AM
 
8,575 posts, read 12,395,872 times
Reputation: 16522
Quote:
Originally Posted by Silverfall View Post
The DOJ wants to make it so that the sellers can't offer any compensation. They want to make that illegal. They don't care if the fee gets negotiated in the offer, but they want the buyer to negotiate the fee because they don't think buyer agents will be able to justify their high fees to buyers. They are right about that.
It sounds like the DOJ is pushing for more Buyers to go without representation. They seem to have forgotten the old saying: "Those who forget history are doomed to repeat it."
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Old 04-09-2024, 11:04 AM
 
Location: Cary, NC
43,265 posts, read 77,043,330 times
Reputation: 45612
Quote:
Originally Posted by jackmichigan View Post
It sounds like the DOJ is pushing for more Buyers to go without representation. They seem to have forgotten the old saying: "Those who forget history are doomed to repeat it."
That will be a greater gift to sellers and their proceeds than any hogwash about cobroke commissions.
But, sooner or later every buyer is a seller and most sellers are buyers.
The blade will cut both ways.
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Old 04-09-2024, 11:51 AM
 
1,135 posts, read 401,075 times
Reputation: 590
Quote:
Originally Posted by MikeJaquish View Post
That will be a greater gift to sellers and their proceeds than any hogwash about cobroke commissions.
But, sooner or later every buyer is a seller and most sellers are buyers.
The blade will cut both ways.
Most of the time, there is no need to use BA.
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Old 04-09-2024, 12:27 PM
 
Location: Salem, OR
15,572 posts, read 40,409,288 times
Reputation: 17468
Quote:
Originally Posted by jackmichigan View Post
It sounds like the DOJ is pushing for more Buyers to go without representation. They seem to have forgotten the old saying: "Those who forget history are doomed to repeat it."
No. I don't think so. It is all about the math.

Brokerages just need to be mindful about not overhiring for the market. You can't have agents spreading their business costs over so few clients. Fees can come down if agents do more transactions per agent.

Agents need to stop wasting time taking out buyers who aren't ready to buy and that they haven't properly vetted. Buyer agency is very time-consuming because agents let it be that way. It will shift and become more streamlined to keep fees down AND buyer agents will stop being on call 24/7. You can still make good money, but there is a price to pay for a drop in fees and being on call all the time is one of them.

The volume of agents is seriously problematic in terms of affordable fees for consumers.
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Old 04-09-2024, 12:52 PM
 
Location: Cary, NC
43,265 posts, read 77,043,330 times
Reputation: 45612
Quote:
Originally Posted by The_Sim_Mister View Post
Most of the time, there is no need to use BA.
Prove it.
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