4 ms·

Home Sellers Win $1.8B After Jury Finds Conspiracy Among Realtors

30 points by khazhoux 3y ago

khazhoux 3y ago
Could be big implications for home buyers in Silicon Valley. With standard-issues houses now casually in the $2M+ range, it's outrageous that the selling and buying agent each pocket $60K+ for a few days of easy work.
metadat 3y ago
Discussed 5 days ago: Jury Finds Realtors Conspired, Awards Nearly $1.8B in Damages https://news.ycombinator.com/item?id=38089356 https://news.ycombinator.com/item?id=38089356 (273 comments)
KingLancelot 3y ago
[dead]
paulddraper 3y ago
PSA for sellers, use a "fixed rate" service that will be your realtor in name only and put your property on MLS
- nxm 3y ago
  Any recommendations?
  - paulddraper 3y ago
    Depends on your location. I'm in Utah. But e.g. for the SF area, this is the sort of thing I'm talking about: https://listwithclever.com/flat-fee-mls-listing/california/san-francisco/ https://listwithclever.com/flat-fee-mls-listing/california/s... Cost a few hundred dollars, depending how full service they are.
- lunaticlabs 3y ago
  I second this, as someone who did this 5 years ago and ended up closing at a higher sale price than the realtors even promised in interviews, with a total of... $500 in fees. This is absolutely the way to do it.
mvncleaninst 3y ago
archived; https://archive.ph/k9Z2a https://archive.ph/k9Z2a
WirelessGigabit 3y ago
As a buyer if I don't use an agent I don't get the 2.5%. Why is the seller's agent entitled to it all if I am not part of their cult? I hop this makes it for sellers and buyers to switch to fixed fee services, as there is ZERO difference to selling a house in Bel Air or in Mission Hills. A buyer's agent also has a pervasive incentive to avoid places that for sale by owner. They are avoided. Also notice 'Realtor', which is a registered trademark. Ever spoken to one? How they talk about their team? And their 'programs' to help lower interest rates? It's not that different from an MLM.

4 ms·

Home Sellers Win $1.8B After Jury Finds Conspiracy Among Realtors

30 points by khazhoux 3y ago

khazhoux 3y ago
Could be big implications for home buyers in Silicon Valley. With standard-issues houses now casually in the $2M+ range, it's outrageous that the selling and buying agent each pocket $60K+ for a few days of easy work.
metadat 3y ago
Discussed 5 days ago: Jury Finds Realtors Conspired, Awards Nearly $1.8B in Damages https://news.ycombinator.com/item?id=38089356 https://news.ycombinator.com/item?id=38089356 (273 comments)
KingLancelot 3y ago
[dead]
paulddraper 3y ago
PSA for sellers, use a "fixed rate" service that will be your realtor in name only and put your property on MLS
- nxm 3y ago
  Any recommendations?
  - paulddraper 3y ago
    Depends on your location. I'm in Utah. But e.g. for the SF area, this is the sort of thing I'm talking about: https://listwithclever.com/flat-fee-mls-listing/california/san-francisco/ https://listwithclever.com/flat-fee-mls-listing/california/s... Cost a few hundred dollars, depending how full service they are.
- lunaticlabs 3y ago
  I second this, as someone who did this 5 years ago and ended up closing at a higher sale price than the realtors even promised in interviews, with a total of... $500 in fees. This is absolutely the way to do it.
mvncleaninst 3y ago
archived; https://archive.ph/k9Z2a https://archive.ph/k9Z2a
WirelessGigabit 3y ago
As a buyer if I don't use an agent I don't get the 2.5%. Why is the seller's agent entitled to it all if I am not part of their cult? I hop this makes it for sellers and buyers to switch to fixed fee services, as there is ZERO difference to selling a house in Bel Air or in Mission Hills. A buyer's agent also has a pervasive incentive to avoid places that for sale by owner. They are avoided. Also notice 'Realtor', which is a registered trademark. Ever spoken to one? How they talk about their team? And their 'programs' to help lower interest rates? It's not that different from an MLM.