How New Realtor Fees Are Changing Denver Real Estate

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Buying a home in Denver just changed. Sort of.
There are significant changes to how the real estate industry operates starting this fall, but how do they affect you as a buyer or seller? I break that down in a straightforward (if typically longwinded) way.
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Опубликовано:

27 сен 2024

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Комментарии : 10

@mrbuckmeister 15 дней назад

I get why this has been made a big deal. As you explain well it isn't a big deal. For me this is a straight forward math equation. Now the price the buyer pays is the amount the seller wants for the house plus the amount the buyer's agent pays. If the seller doesn't pay the buyer's agent and the buyer pays the agent, the total amount paid by the buyer to the seller will go down by the amount of the buyer's agent fee but the net to the seller will be the same. There's a risk that the seller will get less offers because people who are not comfortable paying the buyer's agent directly will not make an offer. That could result in the seller getting a lower price. The seller may superficially feel like they are paying less but that perception may result in them getting less money for their house. The net result is they lose money.

@taftsing 15 дней назад

Overall, it's accurate but somewhat misleading regarding the buyer's commission. Historically, if the seller didn't offer a 3% commission, there was a risk that buyer's agents would either not show or deprioritize the listing because they stood to make less. Several real estate agents I know have confirmed this, which makes sense as it directly impacts their earnings. While buyer agent fees were technically negotiable, in practice, sellers had little choice but to offer the standard rate to avoid limiting their pool of potential buyers due to agent bias.

@23centrifuge 13 дней назад

This is the actual truth. They were ‘negotiable’ but not if you wanted to sell your house.

@DenverLivingwithSam 13 дней назад

@23centrifuge Not exactly. Thousands of people (probably more) have sold their home FSBO without any realtors. It’s just a lot harder, and you net less money on average, and open yourself up to all sorts of legal issues, which is why most people work with a professional. That was true then and is true now.

@23centrifuge 13 дней назад

I have been told multiple times by multiple realtors that selling your home as ‘ for sale by owner’ will result in real estate agents, actively, avoiding showing those homes to their clients, or obfuscating them entirely. It is incredibly difficult to do not just because of what you’re describing, but because of the collusion within the realtor industry to shut those sales out at least that’s my opinion based on what real estate agents and real estate professionals who are part of the ‘realtor’ group identification have said explicitly in the past. I guess I am saying, there seems to be a lot of truth in both perceptions.

@DenverLivingwithSam 13 дней назад

@23centrifuge That has not been my experience-I’ve showed plenty of FSBOs and done deals with them in the past-but I don’t doubt they are realtors who won’t, like you said.