this post was submitted on 31 Aug 2024
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Economy
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We just bought our first house and the way our realtor explained it was something like this:
Yes, the new law says the buyer pays the buyer's realtor fees (typically around 3% of the purchase price). Seller's think they're getting more money because, "hey! I don't have to pay both my realtor and the buyer's agent". But the law doesn't say the buyer must pay - it's still negotiable. And if the seller won't pay the buyer's fee, nobody will show their house to potential buyers.