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Real Estate Lawsuit & What that Means to You

The verdict in this multi-billion-dollar case accuses realtors of collusion to make

sellers pay more than necessary in commissions. This will likely be appealed in

the future as it has been a long-standing cooperation model that has always

included negotiation between agents and sellers.

There are clear benefits of the system of cooperating compensation, which helps

keep a transaction together with real estate expertise on both sides. But the

indictment points to the fact that sellers need more clarity and understanding of

their options. The payment to buyers’ agents may not change, may be negated

entirely, may be based upon the offer amount, or any other system the seller

chooses to adopt.

On the buyers’ side, there may be instances where the seller does not offer

compensation, and buyers need to pay their agent. Again, this has been the case

all along for many For Sale by Owners and other situations. The buyer agent

compensation may be negotiated into the transaction contract, or some buyers

will seek other options.

The Sue Long Team acknowledges the confusion consumers may feel considering

these developments and is committed to collaborating with you to identify fair

solutions for both buyers and sellers. As this situation continues to unfold, expect

to come across more news and discussions on the topic. Feel free to reach out to

us for additional information on the pros and cons, as well as strategies for

navigating the current real estate market when selling or buying your home.

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