OT: 6% Realtor Commission going away. WARNING: Involves Maths!!!

[TheBigUglies]

https://www.cnn.com/2024/03/15/economy/nar-realtor-commissions-settlement/index.html

Been seeing the headlines and I applaud making this monopoly go away. 6% is my opinion is too much especially when you get to higher priced homes.

6% on 250k = $15,000
6% on 500k = $30,000
6% on 750k = $45,000
6% on 1 mil = $60,000

That being said, I was a realtor at a very young age working on 100% commission. Yes this gets split between sellers agent and buyers agent(3% each) and then depending on your arrangement with your broker, if your new you split 50/50 with broker office(PA Law says you can't be a real estate agent without hanging your license in a real estate brokers office who is supposed to supervise you). By the time the agent gets their cut in the first case its $3,750. That being said, there are too many hands in the pot and the seller has to pay for it all. Now, in my opinion its the same effort to list and sell a house, the sellers were always at the mercy of the agent because of the multiple listing service which is owned by the local board of realtors.

In my opinion, services should be a flat fee depending on what the seller wants. Usually listing it in the MLS(which there was a fee) is enough to get the info out to the other agents(now there are new services buyers use before going to agents, like realtor.com, zillow, etc, which I am guessing there is a fee). I have sold 2 houses in my lifetime and paying the $30K to the realtor(that was selling and buying agent) kind of pissed me off because I know the little effort that was put into it. Then at settlement they try to charge me extra for doc fees which is crap as well. Real Estate is an industry that needs disruption. Say an article that the UK is going on flat fees. Also, in this day an age of the internet, do we really need real estate agents any more? Educated sellers/buyers can pretty much arrange everything themselves. Agreement of Sales can be automated, schedule the title agency for title search and settlement, etc.

There are probably agents on here I just made angry but I get angry paying a large chunk of my equity to you for things I can do myself or in an automated fashion with today's technology.

 

[Sharkies]

Its absolutely insane that it took this long to potentially change, given:
- low barriers to entry to be a realtor
- consumers, who now have access to zillow, and comps data, the whole shebang at their finger tips
- the average house price, which has doubled the average commission paid, when the work load hasn't increased
- and considering the work on an hourly basis - to sell a house, a realtor spends how many hours to do it? 10 hours? 20 tops? At 20k in commission, you're paying $1000 an hour. This isn't underwater welding, you're having them take a couple pictures, fill out a form, and write a paragraph about your house. Oh, and have a showing or two. For $1,000 a hour.

 

[s1uggo72]

Its absolutely insane that it took this long to potentially change, given:
- low barriers to entry to be a realtor
- consumers, who now have access to zillow, and comps data, the whole shebang at their finger tips
- the average house price, which has doubled the average commission paid, when the work load hasn't increased
- and considering the work on an hourly basis - to sell a house, a realtor spends how many hours to do it? 10 hours? 20 tops? At 20k in commission, you're paying $1000 an hour. This isn't underwater welding, you're having them take a couple pictures, fill out a form, and write a paragraph about your house. Oh, and have a showing or two. For $1,000 a hour.

seeing how you brought up underwater welding, the industry had a debate train divers to weld or welders to dive. for the most part they are training divers to weld.

 

[ChandlerPearce]

https://www.cnn.com/2024/03/15/economy/nar-realtor-commissions-settlement/index.html

Been seeing the headlines and I applaud making this monopoly go away. 6% is my opinion is too much especially when you get to higher priced homes.

6% on 250k = $15,000
6% on 500k = $30,000
6% on 750k = $45,000
6% on 1 mil = $60,000

That being said, I was a realtor at a very young age working on 100% commission. Yes this gets split between sellers agent and buyers agent(3% each) and then depending on your arrangement with your broker, if your new you split 50/50 with broker office(PA Law says you can't be a real estate agent without hanging your license in a real estate brokers office who is supposed to supervise you). By the time the agent gets their cut in the first case its $3,750. That being said, there are too many hands in the pot and the seller has to pay for it all. Now, in my opinion its the same effort to list and sell a house, the sellers were always at the mercy of the agent because of the multiple listing service which is owned by the local board of realtors.

In my opinion, services should be a flat fee depending on what the seller wants. Usually listing it in the MLS(which there was a fee) is enough to get the info out to the other agents(now there are new services buyers use before going to agents, like realtor.com, zillow, etc, which I am guessing there is a fee). I have sold 2 houses in my lifetime and paying the $30K to the realtor(that was selling and buying agent) kind of pissed me off because I know the little effort that was put into it. Then at settlement they try to charge me extra for doc fees which is crap as well. Real Estate is an industry that needs disruption. Say an article that the UK is going on flat fees. Also, in this day an age of the internet, do we really need real estate agents any more? Educated sellers/buyers can pretty much arrange everything themselves. Agreement of Sales can be automated, schedule the title agency for title search and settlement, etc.

There are probably agents on here I just made angry but I get angry paying a large chunk of my equity to you for things I can do myself or in an automated fashion with today's technology.

You do not have to pay the commission....just be a FSBO.....For Sale By Owner.

 

[razpsu]

Sold 3 houses and all 3 had sellers that would list it and not do much else. They would always delegate to someone on the team. They would say I have sold 100 homes this year. That is like working at a bar and a server or bartender saying they sold a beer. Lol

 

[bbrown]

https://www.cnn.com/2024/03/15/economy/nar-realtor-commissions-settlement/index.html

Been seeing the headlines and I applaud making this monopoly go away. 6% is my opinion is too much especially when you get to higher priced homes.

6% on 250k = $15,000
6% on 500k = $30,000
6% on 750k = $45,000
6% on 1 mil = $60,000

That being said, I was a realtor at a very young age working on 100% commission. Yes this gets split between sellers agent and buyers agent(3% each) and then depending on your arrangement with your broker, if your new you split 50/50 with broker office(PA Law says you can't be a real estate agent without hanging your license in a real estate brokers office who is supposed to supervise you). By the time the agent gets their cut in the first case its $3,750. That being said, there are too many hands in the pot and the seller has to pay for it all. Now, in my opinion its the same effort to list and sell a house, the sellers were always at the mercy of the agent because of the multiple listing service which is owned by the local board of realtors.

In my opinion, services should be a flat fee depending on what the seller wants. Usually listing it in the MLS(which there was a fee) is enough to get the info out to the other agents(now there are new services buyers use before going to agents, like realtor.com, zillow, etc, which I am guessing there is a fee). I have sold 2 houses in my lifetime and paying the $30K to the realtor(that was selling and buying agent) kind of pissed me off because I know the little effort that was put into it. Then at settlement they try to charge me extra for doc fees which is crap as well. Real Estate is an industry that needs disruption. Say an article that the UK is going on flat fees. Also, in this day an age of the internet, do we really need real estate agents any more? Educated sellers/buyers can pretty much arrange everything themselves. Agreement of Sales can be automated, schedule the title agency for title search and settlement, etc.

There are probably agents on here I just made angry but I get angry paying a large chunk of my equity to you for things I can do myself or in an automated fashion with today's technology.

I saw that and am glad it's happening. I recently sold mine and while my realtor was very helpful I wasn't sure why it had to be split with the buyers realtor since they didn't do anything. Also not sure what realtors do now except paperwork because everyone is using the internet to find their houses.

 

[WestSideLion]

I saw that and am glad it's happening. I recently sold mine and while my realtor was very helpful I wasn't sure why it had to be split with the buyers realtor since they didn't do anything. Also not sure what realtors do now except paperwork because everyone is using the internet to find their houses.

The interesting thing will be seeing if the realtor industry responds. Ex: like credit card companies charging to unlock member points after late payments when Biden banned late payment fees.

 

[Bison13]

I saw that and am glad it's happening. I recently sold mine and while my realtor was very helpful I wasn't sure why it had to be split with the buyers realtor since they didn't do anything. Also not sure what realtors do now except paperwork because everyone is using the internet to find their houses.

Agree. We sold our house and a rental property that was starting to need to much in renovations and while we used a realtor to help with the paperwork while we looked for our own house, none of the three houses were houses that the buyers did not find on their own. We also negotiated a lower fee with the realtor as we told him that we could very well just use our own time or our lawyer to draft all paperwork since it was the summer and that we were bringing over $1M to the table with all of the sales.

 

[laKavosiey-st lion]

Moms and I blew off using a realtor 2 years ago, made 150k after 5 years in hopat and saved 30
i sold the house in 10 days I’d be a tremendous realtor if I had ttits

 

[razpsu]

So what are the cliff notes to new rules.

 

[EricStratton-RushChairman]

 

[LionJim]

Moms and I blew off using a realtor 2 years ago, made 150k after 5 years in hopat and saved 30
i sold the house in 10 days I’d be a tremendous realtor if I had ttits and shaved.

Fixed.

 

[BiochemPSU]

On one hand, this is probably a good thing for sellers.
On the other hand, probably a bad thing for buyers and the industry in general, which (right now) employs a lot of people.

I fear most buyers will have to roll their buyer's agent costs into their 30 year mortgage if they can't afford the flat fee or percentage that they will likely be charged. That sucks to have to pay on that for 30 years. Some folks may not need a buyer's agent if they are moving across town and know the area. But if you are going from Orlando to Seattle, you probably have no idea where and what you should be looking at, let alone if the price is right. Plus there is the paperwork and other rules/regs that your average home buyer won't know anything about if they try to do it on their own. Youtube videos can only get you so far. Lack of people who know what they are doing could really slow things down and cost deals for people. IMO, it is likely that sellers will end up paying a small fee for buyers with realtors just to get to closing on time and avoid having to sue or start all over after missed closing dates.

I too celebrate the demise of the big, loud mouth realtor who offers nothing but plasters their face all over town and social media. But behind them is an industry that most people only deal with one or two times in their lifetime and know very little about.

 

[TheBigUglies]

On one hand, this is probably a good thing for sellers.
On the other hand, probably a bad thing for buyers and the industry in general, which (right now) employs a lot of people.

I fear most buyers will have to roll their buyer's agent costs into their 30 year mortgage if they can't afford the flat fee or percentage that they will likely be charged. That sucks to have to pay on that for 30 years. Some folks may not need a buyer's agent if they are moving across town and know the area. But if you are going from Orlando to Seattle, you probably have no idea where and what you should be looking at, let alone if the price is right. Plus there is the paperwork and other rules/regs that your average home buyer won't know anything about if they try to do it on their own. Youtube videos can only get you so far. Lack of people who know what they are doing could really slow things down and cost deals for people. IMO, it is likely that sellers will end up paying a small fee for buyers with realtors just to get to closing on time and avoid having to sue or start all over after missed closing dates.

I too celebrate the demise of the big, loud mouth realtor who offers nothing but plasters their face all over town and social media. But behind them is an industry that most people only deal with one or two times in their lifetime and know very little about.

Yeah, maybe buying and selling 3 houses so far in my life I feel like I don't need the agent. When we bought our current house, we really didn't use an agent to find it or go thru the process. However, it was a builder spec. Our buyers agent contract had expired but I did reach out to the agent helping us to ask what he would bring to the table and all I heard was Charlie Brown's grandma(Wah Wuh Wah...). I was also able to negotiate the price down a little and not get charged extras we wanted because we weren't using an agent. Everything an agent does these days can be automated. If you are moving out of town or across states you could just pick the Home Inspection option on the automated process to submit your offer. Just sayin'. Realtors aren't allow to tell you about school districts, condition of home, prop lines, things coming to the neighborhood that would effect value, etc. There are liabilities for them to do that if they misrepresent something(at least that is the way it was in the 90s). They can just provide you reports and you decide yourself. For example, we had an agent try to talk us into a property in Chalfont, PA prior to the new 202 bypass being built. We did our due diligence and if we would have bought we would have a 4 land noisy highway in our backyard. I feel that you don't really need an agent these days and all the processes can be automated between buyer and seller. Agents were just there(before everybody had computers) to do the paperwork and get you to the settlement table. With computers, this can all be automated between buyer and seller as well as getting pre-approved for mortgage. Also, the title companies always handled settlement anyway. Agents are just middle people that can just be removed from the process.

 

[Pennst8nut]

You do not have to pay the commission....just be a FSBO.....For Sale By Owner.

Try FSBO (for sale by owner) and ALL of you let us know how it works for you (not just the rare one that does). Who has the time to manage all the activities (upfront research on comps, staging and marketing your home, conducting agent caravans to preview homes, conducting open houses on the weekend yourself), negotiating any offers, negotiating concessions after inspections, preparing paperwork needed for contract, amendments, and closing documents? Occasionally, one will sell on its own, and you will stumble to close it within the time that a buyer needs...try it and you'll see.

 

[bbrown]

Try FSBO (for sale by owner) and ALL of you let us know how it works for you (not just the rare one that does). Who has the time to manage all the activities (upfront research on comps, staging and marketing your home, conducting agent caravans to preview homes, conducting open houses on the weekend yourself), negotiating any offers, negotiating concessions after inspections, preparing paperwork needed for contract, amendments, and closing documents? Occasionally, one will sell on its own, and you will stumble to close it within the time that a buyer needs...try it and you'll see.

Some states are much easier to sell your own house in, Maryland is not one of them.

 

[laKavosiey-st lion]

But if you are going from Orlando to Seattle, you probably have no idea where and what you should be looking at, let alone if the price is right

This is nonsense. We almost moved to Seattle the kids were 13 and 11. We decided not to uproot them. I found the school district (issaquah) and the neighborhood (lake) based mostly on the hs lacrosse team with no realtor. (Zillow) Now granted this is more difficult now that lax power is defunct. Another pro tip is check out the hs bb team roster photo

 

[Nitt1300]

realatards

 

[WestSideLion]

But if you are going from Orlando to Seattle, you probably have no idea where and what you should be looking at, let alone if the price is right

This is nonsense. We almost moved to Seattle the kids were 13 and 11. We decided not to uproot them. I found the school district (issaquah) and the neighborhood (lake) based mostly on the hs lacrosse team with no realtor. (Zillow) Now granted this is more difficult now that lax power is defunct. Another pro tip is check out the hs bb team roster photo

We just bought in Bethesda, MD. Our buyer’s agent was critical in choosing an area and finding a house. Most useful was her advice on making an offer. We had to beat 12 other offers for our house and never could have done that without her.

 

[Midnighter]

We just bought in Bethesda, MD. Our buyer’s agent was critical in choosing an area and finding a house. Most useful was her advice on making an offer. We had to beat 12 other offers for our house and never could have done that without her.

Nice! Bethesda Bagels as close to NYC as you will get around here. Daughter takes piano lessons in Bethesda - we hit it up every week.

 

[LionJim]

Nice! Bethesda Bagels as close to NYC as you will get around here. Daughter takes piano lessons in Bethesda - we hit it up every week.

Yes, a terrific downtown.

 

[laKavosiey-st lion]

We just bought in Bethesda, MD. Our buyer’s agent was critical in choosing an area and finding a house. Most useful was her advice on making an offer. We had to beat 12 other offers for our house and never could have done that without her.

Def didn’t consider the offer side. We bought our current house in the driveway from the owner before he listed it. Super lucky in the dark days of aids 19 sellers market. He also was sell by owner. Fair deal, moms was happy, they were happy.

Middletown to Bethesda

www.google.com

 

[leinbacker]

Never understood the buyer agent being paid a percentage of the sale. It means the buyer agent makes more when they get their buyer to pay a higher price.

 

[WestSideLion]

Nice! Bethesda Bagels as close to NYC as you will get around here. Daughter takes piano lessons in Bethesda - we hit it up every week.

Drinks are in our future!

 

[WestSideLion]

Never understood the buyer agent being paid a percentage of the sale. It means the buyer agent makes more when they get their buyer to pay a higher price.

It’s a conflict that crossed my mind. In Maryland, going over asking is governed by an escalation clause that’s defined by each potential buyer in advance. But the buyer’s agent does advise on a max number they think can win out. They are required to show proof of escalation before additional contracts are signed.

 

[BiochemPSU]

But if you are going from Orlando to Seattle, you probably have no idea where and what you should be looking at, let alone if the price is right

This is nonsense. We almost moved to Seattle the kids were 13 and 11. We decided not to uproot them. I found the school district (issaquah) and the neighborhood (lake) based mostly on the hs lacrosse team with no realtor. (Zillow) Now granted this is more difficult now that lax power is defunct. Another pro tip is check out the hs bb team roster photo

It can be done without a realtor. I don’t know if almost moving and using a hs lacross team as the basis for research is really making the point, but there is a ton of information out there now for sure. As others are saying, paying the 3% to a buyers agent is ridiculous and a conflict of interest IMO. Some other arrangement for buyers agents will come from it as there are other aspects of the sales process that they do bring some value to the table.

my neighbor has decided that 3k for a roof repair is ridiculous. So he claims he figured out how to do it himself. The repair Looks like crap and I have no idea how effective it actually was. Some people just need to do things on their own and say they did it, quality of actual results be damned. Yet many survive the car buying process without representation and genuinely believe they just walked off the lot with “a steal;” as if the giant car dealership who has been in business for decades just got one pulled over on them by some guy with google.

 

[laKavosiey-st lion]

I’m truck shopping tomorrow can you come with?

 

[pamdlion]

Never understood the buyer agent being paid a percentage of the sale. It means the buyer agent makes more when they get their buyer to pay a higher price.

I love it when they give you the line…”10,000 spread over your 30 yr mortgage is only another $30 a month”

 

[1995PSUGrad]

Through all of these posts I was surprised no one mentioned these companies like Open Door. I don't know how they make any money but they do. I haven't used them myself but we have had them give us an estimate which was way over what we expected. I know some people who used them and in every case they got much more than I felt they should have gotten and their is no hassle. It's quick and easy.

 

[stater02]

Never understood the buyer agent being paid a percentage of the sale. It means the buyer agent makes more when they get their buyer to pay a higher price.

Exactly. And I have had multiple buyer’s agents tell me (when I was the buyer) that it “costs me nothing” to hire them because the seller pays. False. Both the buyer and seller end up paying. What’s worse is that those fees result in a higher home price on the next sale, and the sale after that, etc. And I’ll go a step further and say that those fees aren’t 6%, they’re really more like 12-15% when you consider a buyer financing a home for 30 years. All this just to schedule a showing and show me where the kitchen is? What a racket.

As some have said, there are instances where you may be new to a market and need a level of service from a buyers agent that should earn them a higher fee. That’s fair. I love that buyers can now negotiate with the agent in the front end to pay them for what is required.

I do worry about two adverse effects that this decision will have. First, is that “premium” agents may actually end up charging buyers more than 3% with promises that they can guarantee that they’ll get their client a home. Effectively, it becomes a pay to play situation. Second, buyers will now have to pony up cash to pay the buyers agent up front, creating yet another barrier to entry in a difficult buying market.

It would be great if the system could be demystified a bit and fees for agents capped. Their commissions directly contribute to rising home prices in this country. But if you’ve bought or sold a home recently, you also know it’s not only RE agents - plenty of governmental agencies & others have their hands out in this process.

 

[PSUAVLNC]

You do not have to pay the commission....just be a FSBO.....For Sale By Owner.

I've sold two of my properties on FSBO, I think it cost me about $1000 each time. Piece of cake. The only thing I didn't like was FSBO required a copy of the settlement statement. Never understood how that was any of their business.

 

[TiogaLion]

I've bought and sold four properties. The first time my agent passed on information that I didn't want the seller to know, like how high I was willing to pay. You can't prove this but if only three people, you, your spouse, the agent, know the information it's easy to draw a conclusion. Well, I was able to use this to my advantage on future transactions. For example I sold a home about 15 years ago that I listed for $249k in a buyers market that my agent thought I should list for $226k. I told my realtor that I would probably accept an offer of $239k but wanted to see what comes in. I also told them that to not bring in any offer that had additional demands. Well, my first offer was for $239k without any additional requirements. I knew they would tell the other realtor and they did.

 

[razpsu]

So looking for a commercial property and this guy tells me he can find me something at 2.5 percent. Well 2.5 percent of a 2.5 million property that he shared with me is 60k plus. I said you can’t be serious. He puts in a lot of work for that he said. I laughed.

 

[bdgan]

You do not have to pay the commission....just be a FSBO.....For Sale By Owner.

It's not so easy to work outside the MLS system.

 

[EdwardoCarrachio]

This has been long overdue in my opinion/experience, but it's really precipitated by housing becoming unaffordable for a large number of American families. Without that, there is no change initiated. 30-yr rates are back to 7% again (was 2.65% just a few years ago) and the average annual rent increase over the last 3 years is 6.49% which is over double what it had been. So, buying a home is much more expensive but rent is rising rapidly if you don't.

As a result, who wants to sell when you are locked in to a 2.65% rate even to upgrade? Notice below that your $700k home bought 3 years ago has almost the same monthly payment as "upgrading" to a $400k home today. Most people are sitting on possibly their lowest in a lifetime rate even if they would like to step up. And housing inventory is still supposedly 1 Million units

And young people just starting out are the ones who are getting squeezed the most. The entry to home ownership is going up with housing prices much higher, rates almost 3X as high as a few years ago, and fast rising rent eating into their potential to save for a downpayment. That and the fact that real wage growth is down 3.1% over the last 3 years makes it pretty tough to break in.

 

[PSUAVLNC]

It's not so easy to work outside the MLS system.

It is actually. If you use FSBO you do get an MLS listing. I had tons of realtors call to want to look at my house with a buyer. I told them if they bought me a buyer Id give them 2%. As it turned out I sold both properties through FSBO without any help from a realtor. There’s a lot of sellers that use FSBO and there are a lot of buyers looking too. I definitely had an MLS listing both times.

 

[PSUAVLNC]

This has been long overdue in my opinion/experience, but it's really precipitated by housing becoming unaffordable for a large number of American families. Without that, there is no change initiated. 30-yr rates are back to 7% again (was 2.65% just a few years ago) and the average annual rent increase over the last 3 years is 6.49% which is over double what it had been. So, buying a home is much more expensive but rent is rising rapidly if you don't.

As a result, who wants to sell when you are locked in to a 2.65% rate even to upgrade? Notice below that your $700k home bought 3 years ago will has almost the same monthly payment as "upgrading" to a $400k home today. Most people are sitting on possibly their lowest in a lifetime rate even if they would like to step up. And housing inventory is still supposedly 1 Million units

And young people just starting out are the ones who are getting squeezed the most. The entry to home ownership is going up with housing prices much higher, rates almost 3X as high as a few years ago, and fast rising rent eating into their potential to save for a downpayment. That and the fact that real wage growth is down 3.1% over the last 3 years makes it pretty tough to break in.

The market goes and the market goes down. Same with inventory. Always has and always will. 1st time buyers always have the option of buying what they want now and refinancing when rates drop. As they surly will.

I bought my first property in 1982 at 8.5%. I was young and dumb. I hung on and sold that property 7 years later at 45% more than what I paid for it.

 

[EdwardoCarrachio]

The market goes and the market goes down. Same with inventory. Always has and always will. 1st time buyers always have the option of buying what they want now and refinancing when rates drop. As they surly will.

I bought my first property in 1982 at 8.5%. I was young and dumb. I hung on and sold that property 7 years later at 45% more than what I paid for it.

Yes, I've used real estate to grow wealth as well. When I first completed undergrad and landed my first decent paying job, I started socking about 50% of my pay into mutual funds. After a couple of years, I bought my first starter home and then rented it out when I bought the next. I bought 4 houses by my early 30s and had a nice little positive cash flow from the rental properties. I'd live in the new one and rent it out when I found the next.

I've continued to add properties at a slower rate since, because I self-manage them, and it does take additional time and effort. But this and other additional revenue streams have allowed me to retire in my early 40s. Now as I approach 50, several properties are getting close to being paid off and that nice little positive cash flow projects as significant jumps in income when they are paid off.

My original points were that market conditions currently are challenging for new entries, most with low rates aren't selling, and that is the reason why lawmakers decided to take action on the way homes are bought and sold. Another challenge for the average American is that many large funds have started buying up a significant number of residential units because renting them is very lucrative. It may also be that they have moved out of the commercial market that is collapsing. This is further driving housing prices up. From a historical perspective, in the 70s the average home price to average annual income was about 2X. Today it is 7.5X. The average home now has more sqft but it is also much higher price per sqft. Income growth hasn't matched home price acceleration.

 

[bdgan]

It is actually. If you use FSBO you do get an MLS listing. I had tons of realtors call to want to look at my house with a buyer. I told them if they bought me a buyer Id give them 2%. As it turned out I sold both properties through FSBO without any help from a realtor. There’s a lot of sellers that use FSBO and there are a lot of buyers looking too. I definitely had an MLS listing both times.

I know you can list on Zillow for free but buyer's brokers call and ask for a commission.

Regardless.... I have a $500k property listed and the realtor accepted a 4% commission. 6% wasn't mandatory.

 

[laKavosiey-st lion]

I know you can list on Zillow for free but buyer's brokers call and ask for a commission.

Regardless.... I have a $500k property listed and the realtor accepted a 4% commission. 6% wasn't mandatory.

You reminded me, we paid the buyers realtor a few grand