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.