Have you heard?

 

Have you heard? The news has been ablaze about us crazy real estate agents changing the rules of engagement in the real estate business.  But wait!  We didn't do it this time either.

 

A major lawsuit claimed that the National Association of REALTORS and its members have colluded for many years to "set" fees in stone. And some home sellers won a class-action lawsuit that upheld this notion that real estate fees are set and fixed by some REALTORS and are not negotiable.

 

Whaattt???  This is my 49th year as a REALTOR and I've never colluded with anyone about the fees we charge.  In fact, real estate fees have always been negotiable.  But now with this new settlement, everyone must know that REAL ESTATE FEES ARE NEGOTIABLE.  And these homesellers no longer want to pay the buyer agents -- "let the buyers pay their own agents," they say.  Great idea, if the buyers had the money.  Some do, but most don't.  But now, BEFORE YOU LOOK AT HOUSES, you must SIGN an agreement that establishes how your agent will be paid by whom and how much.  

 

So get ready for how this will make it better.  You want to see a house -- you must sign an agreement before an agent can show it to you.  

 

You want to sell your house -- you must negotiate a fee with your agent AND decide whether or not you will offer some type of compensation to an agent who brings you a buyer.  

 

The good news is that you can actually screen your agent better and find one with experience to guide you down the path of buying and selling. Get a proven negotiator who can help you get a great home at a great rate!  And handle the details . . . . just what you want.  But shop around for the best agent who can help YOU!   (. . . to be continued . . .)