LogFAQs > #979610620

Harpie posted...

As far as I understand, sellers were already paying the full 6%: their share and the buyers share.
Now that the realtor fee is on the buyers shoulders, and the commission rate isnt hard set on 3% for each party, the buyer can either negotiate with the seller for them to pay the fee, or the buyer can go through an inevitable budget option at a much lower percentage.
It seems more likely that the seller would still pick up the fee for both parties as a negotiation tool, but now they wont be paying 6%. Itll be likely to be much less.

This new rule benefits literally everyone but realtors lol

As a seller in todays market, I wouldnt budge at all and laugh at the buyer asking me for sellers assist in paying for the buyers agent fees. Besides, sellers assist applies to the mortgage that the buyer is going to get and doesnt equate to direct cash to them. This wouldnt work, unless its an under the table deal.

Finally, the 3% is never a hard set; its just the typical rate. As a seller, the seller can dictate 2.5% for buyer and 3.5% for seller (as an example).