I’m the one that posted the other post about feeling that the current 6% system is on it’s way out (if it’s not already). With all the technology out there I’m quite confident most buyers are doing more homework than before.
While I’m sure there are always a percentage of people that need LOTS of handholding….even those people do quite a bit of research online.
The amount of technology today vs. decades ago is like night and day. In talking to several listing realtors on houses over $1 million it seems like almost all of them got an agreement to pay 5% and the listing agent splits it 2.5% with any buyer’s agent that brings a buyer.
I’ll stand by what I wrote in my other post to use a site like Redfin, Ziprealty.com and you can make a potential list and then just contact a traditional realtor and ask them to match Redfin’s rebate to you.
I didn’t have ANY problem at all finding a realtor that quickly agreed to rebate me the same amount as Redfin would rebate to me at closing.
If you have problems finding a realtor that will work in an agreement like this, email me and I’d be happy to refer the agent I’m working with. She has been really great with emails and was bright enough to recognize she would make a great commission.
I’m closing in a few short weeks so it was a quick deal for the realtor and a nice commission to boot.
I know the NAR is really trying to clamp down on these type of websites like Redfin and Ziprealty but technology will make the traditional model all but extinct in the next decade or so, IMHO.
The realtors that figure that trend out are the ones that are going to close a higher volume of deals and make more commissions in my opinion.
