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Ending the practice of the seller paying the buyer's real estate broker commission would result in harm to consumers already facing affordability challenges, commentators on the financing side of the transaction said.
"It's the type of thing that is going to have a lot of unintended consequences that are going to be difficult to predict from the outset," said Brendan McKay, the president for advocacy at the Association of Independent Mortgage Experts…
…It will result in a lot more buyers not getting the services that a Realtor would provide to help them with the transaction, she said. And for buyers, the costs are likely to rise because of the items involved in the transaction that are no longer covered by the seller.
FULL TEXT: Unintended consequences abound with real estate commission change—National Mortgage News
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