OpinionIndustry News

6% commissions are so last year

Guest perspective: What's in store for home buyers and sellers in 2005?

ForSaleByOwner.com, a national real estate services company that allows home buyers and sellers to connect online without the need for a real estate agent, makes the following predictions for real estate in 2005: 1. Increased industry competition means home buyers win big. Along with shrinking real estate commissions across the board, consumers will get more benefits when they sign up with mortgage and real estate services companies competing for their business. Companies are offering everything from cash-back purchase programs to retail shopping cards to consumers who sign with them. Even companies catering to the "for sale by owner market" will offer more amenities to customers. 2. Six-percent commissions are so 2004. Flat-fee home listings have taken off in the last few years through sites like ForSaleByOwner.com, but consumers will now have more choices when it comes to selling without brokers. Companies will offer more add-on services that can further aid in the home-buying and ...