While "buyer agent fee" paid by sellers may disappear in the near term, compensation for buyer agents won't disappear. The housing market will adapt to ensure buyers have representation independent of listing agents. It's beneficial for buyers to have their own dedicated representation.
Sellers don't want to limit their potential buyer pool. A larger pool means more competition and higher sale prices. So there will always be incentives to attract more buyers and maximize opportunities. Rather than concessions to buy down mortgage rates, which is hugely popular now, the market will likely shift towards facilitating buyer agent fees.
The market will always evolve from chaos to order. Freddie Mac and Fannie Mae have taken initial steps to address the chaos by allowing buyer agent commissions without impacting the interested party contributions (IPC) concessions limit.
Call it what you will, but change is coming to improve efficiency and better serve the needs of both buyers and sellers.
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