Anyone sold a house since realtor commission change?

[robinb]

My friend is selling her house. She’s in assisted living and can’t read and speaks in slurred speech due to a brain injury. She is “with it” mentally but can’t physically do many things, including returning to her home. I am helping by interviewing realtors and reporting back to her. She will eventually need to sign a contract with one of them. How does it work now that the commission is no longer automatically split by both agents?

 

[_19disnA]

Haven't sold/bought a house since the realtor commission changed but likely you can discuss/negotiate with the realtor to see how much flexibility they might have when interviewing them. How much they are willing to negotiate their fees probably relates to several factors including how fast homes in your area are currently selling. I assume you have 'power of attorney' for financial matters to be handling this for a 'friend'? Clearly want to make sure that surviving relatives/family members know you are doing this on their behalf to avoid legal issues down the road.

 

[LuvOrlando]

How kind of you to help.

I spoke with an agent in Boston recently. From what I gathered the biggest change is that buyer needs to pay their part and seller pay theirs instead of all of it all coming out of the sellers pocket automatically. From what I was told the seller can opt to pay the whole thing but is unable to advertise it as a means of gathering more interest as obviously this would defeat the purpose of forcing the fees into the light of day.

 

[tvguy]

My daughter listed her house the first week of July, before August 17th when the commission rules changed, however the Real Estate Agent was already operating under the new rules.
What did that mean? They looked at the house, but before putting together a listing, they presented a listing agreement. It listed the commission they were proposing, and that the seller was welcome to negotiate that commission rate. They proposed 4.5% which my daughter agreed to. It also noted that this commission that this agreement could be renegotiated if necessary, if buyers agents were requesting more than the 2.25% split they would be getting.
House listed on 7-6, Got an offer within a few days that fell through, got an accepted offer on 8/3 and closed 8/23. the buyers agent accepted the 2.25% commission.

 

[cvjw]

Younger son just closed on a townhouse on Thursday. The sellers paid all the real estate agent fees. They had an open house and stated that the seller was paying all the fees. Multiple offers on the townhouse.