From the guru of agency, John Reilly: Regarding the Bright Analysis by Lisa Sturtevant, PhD Bright Chief Economist
Our analysis shows that the headlines and assertions are not supported by the data: There is no correlation between buyer's agent compensation and length of time to sell a home, contrary to some comments being made by the media and prosecutors.
CONCLUSION
1. Agent commissions have not been driving up home prices; rather, property and neighborhood characteristics and mortgage rates have fueled home price appreciation.
2. Listing a home on the MLS provides tremendous value both to buyers and to sellers. When homes are listed on the MLS, all homebuyers have an opportunity to see all homes available for sale. Sellers get more "eyes" on their property, which brings them the best offer.
3. When recent homebuyers are asked about real estate agents, there is widespread consensus that it is important for a homebuyer to have their own representation during the complex and sometimes stressful homebuying experience.
4.When recent homebuyers are asked about real estate agents, there is widespread consensus that it is important for a homebuyer to have their own representation during the complex and sometimes stressful homebuying experience.
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