I was told that “about 80% of buyers are searching the internet for homes. Since most of the sites they look on are direct feeds from the mls it is safe to say that when they buy they are buying homes that they have seen on the nternet Also, they estimate that about 70% of buyers and sellers are
finding their agent on the internet.”
My realtor friend went on to say that to prove his point, “I searched 6 zip codes for solds by commission and guess what. There is no evidence that a higher buyers commission got the seller any more money. As a matter of fact in many cases the avg selling price of the higher commission was lower than the lower commission. The internet is radically changing this market and we are only seeing the beginning.”
So for the realtors out there, what happens if your buyer wants to see a house that is paying less than 2.5% commission? Will you try to talk your buyer out of looking at that house? If a house your buyer did not seek out is paying 3.5% commission, will you suggest that you all swing by and have a look? What is your experience with the importance of commission? I would think it has an effect.
