Last week after a long protracted legal dispute the future for buyer agent commissions (co-op) is in question. For generations the seller 'automatically' paid the commission for the buyers agent. Even though that agent represented the buyer of the transaction. On the surface this made sense. The buyer agent generated the buyer from their efforts and thusly should be paid for bringing the buyer to purchase the home. The argument is that the seller wasn't given the option to pay the buyers agents fee. It was assumed the seller would cover the total commissions for both listing agent and the buyers agent. The buyers agent wouldn't have to convince the buyer to pay their commission because of the (mostly US) co-op agreements the seller would cover the cost. Now it seems all of that may be changing. Listen now as Tim and Julie Harris give you a debrief of the details and then your drilled down action plan. Listen now.
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