New nar rules for agents. will alternative models destroy the ease of appraiser getting that info.

[J Grant]

That's all this case about: nar can't imply or preset rule: seller pay buyer's agent (or coop broker) commission. So from now on, the high possibility is buyer's agent (or coop broker) will not get commission from the seller. If that happens, who will pay buyer's agent (or coop broker)?

nothing has changed; a buyer would pay a buyer's agent fee or $ per hour . but few buyers want to pay cash out of their own funds, thus this kind of agency is not common-

 

[J Grant]

Indeed, Andrew C. Spieler, a distinguished professor in business and finance at Hofstra University, likens real estate agents to travel agents. Like travel agents, realtors were once the “gatekeepers” of information. They had access to MLS listings that consumers couldn’t find on their own, so buyers had to be much more “dependent” on their agents to even start house hunting, Spieler tells Fortune.

“You just don't need them,” he says in regard to both travel agents and real estate agents. “I mean, there's still a few out there, but it's going to compress the industry.” Spieler is an award-winning academic who has won several industry awards for his real-estate research.

It’s not rocket science, he says. It’s the internet. Online, homebuyers have access to nearly all the information they’d need to purchase a home. On websites like Zillow and Realtor.com, consumers get almost all of the details they’d want to know, plus photos of the property.

But Zillow and Redfin are populated mostly with MLS data and serve as leads for the agents !

look at their sites and see-

That guy is an idiot, travel agents deal in data set by the airlines - idk if the internet will ever replace RE agents - will see

 

[Raven59]

They never have disclosed seller and buyer commission locally on MLS. The only place that has been disclosed is in sales contract and not on MLS.

I can see if an MLS disclosed it, then it could create problems.

I might be missing your point but I'm a member of six boards and all six report commissions in the MLS listing.

 

[Fernando]

No one to blame but NAR themselves. All they had to do was to put a big bold faced disclaimer to sellers that commissions are negotiable.
Always been that way but agents downplayed it. NAR should have allowed sellers to know that they could have variable commission rates and indicate different commission rate for buyer agents in MLS.

 

[Dublin ohio]

I know of some listing brokers in area that give buyer's broker/agents a 1099. The listing broker pays the buyer broker/agent.

 

[David S]

- idk if the internet will ever replace RE agents - will see

RE agents will be there. But work content / load shall be less due to internet and AI down the road. Therefore, RE agents' revenue will and shall shrink in the future.

 

[Zoe]

I might be missing your point but I'm a member of six boards and all six report commissions in the MLS listing.

I have already said it. They don't do that in Memphis association of realtors.

You have convinced me they do in some local association of realtors.

 

[Zoe]

NAR paying that big fine convinced me more than anything that it occurs.

Our local board of directors is in control of the local association of realtors and Crye-leike (which is local) is also one of the largest brokers in all of USA.

Both commercial and residential. Way bigger in residential than commercial.

 

[Zoe]

That was basically a plea bargain by NAR imho. And it worked with authorities.

It appears that way on the surface. I could be totally wrong. But that was a bunch of money.

 

[David S]

One question: After July, 15, what will happens to all our comps? If we are doing a purchase appraisal in late Aug. Some comps will be in June or July, some comps will be in Aug. How appraiser shall do the adjustment between these comps due to realtor's commission difference? Any thought? or just go vacation from Aug to Oct.?