Who Earns the Commission?
What do you think the motivating reason would be for the 5% of all homebuyers who chose not to work with an agent but instead conducted their own home search, contacted the seller, negotiated the contract, located their financing, arranged their inspections and all of the other services provided by REALTORS®? Most people would probably guess the buyers were wanting to do the work themselves and earn the commission in the form a lower purchase price. Looking at it from the seller's perspective, what would be the reason for the 8% of all home sellers who chose not to work with an agent but instead did their own research to determine the value of their home, coordinated all of the marketing efforts necessary to have sufficient exposure to the market, negotiate directly with the buyer, and investigate all of the other steps necessary to close the sale? Is it possible and even probable, that they too were trying to earn the commission and net more proceeds from the sale? ...