LogFAQs > #979610573

IdiotMachine posted...

I dont see a reason why the seller would reduce the housing price by 3%.

As far as I understand, sellers were already paying the full 6%: their share and the buyers share.
Now that the realtor fee is on the buyers shoulders, and the commission rate isnt hard set on 3% for each party, the buyer can either negotiate with the seller for them to pay the fee, or the buyer can go through an inevitable budget option at a much lower percentage.
It seems more likely that the seller would still pick up the fee for both parties as a negotiation tool, but now they wont be paying 6%. Itll be likely to be much less.

This new rule benefits literally everyone but realtors lol