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Numerous lawsuits against large real estate franchise, National Association of Realtors (NAR), and Multiple Listing Services (MLS), are shedding more light on buyer broker agreements. Lawsuits are challenging the traditional practice of sellers offering compensation through their listing broker to buyer brokers who bring acceptable offers on their properties. This practice according to the Department of Justice (DOJ) is inflating commissions and directly the ultimate purchase price. If the status quo is halted, the DOJ and consumer groups believe more scrutiny would be placed on the fees between the buyer and their buyer broker.
It may be the case that buyer broker fees may become more negotiable and decrease. But are the buyer broker agreements themselves slanted unfavorably towards the brokers? According to some who have looked closely at the agreements, that is the case. Read more from Real Estate News, Report: Existing buyer agency agreements can harm consumers.
