Will this change make Real Estate Brokers leave the field?

tigerwife

Wed, Aug 14 2024, 10:46 am

BH Yom Yom wrote:

A lot of this went over my head, but it sounds like a main difference is that potential buyers would have to sign a contract with an agent before they even start looking at houses. I don’t love the sound of that because what if you end up not wanting to buy any of the houses that agent shows you, or as you’re talking to the agent you got the sense that they’re not the right agent for you to work with? Are you then legally stuck using them because of whatever contract?

Yes, this is what one agent has told me already- that if I want their help, I have to go exclusive with them. I’m not sure if it’s legally binding but more for the benefit of the agent.

amother

↑ Clear

Wed, Aug 14 2024, 10:55 am

amother Mulberry wrote:

Possibly, though it would be very hard to deal with the buying process and the sellers agent would have much less incentive to push for your offer to go through- why would they want to deal with someone who doesn’t know what they’re doing as opposed to a professional?

Because they will make more commission