In many states that just means the other agent gets all the commission instead of splitting it with your agent. You don't get any of it, and it isn't discounted anywhere.
That is really not how it works, and goes to show there is at least some value in agents, as they do know how the process works.
The "standard" in the US is that the sellers pay 6% commission, with 3% going to their listing agent, and 3% going to the buyers agent. If, as a buyer, you show up without a listing agent and don't demand 3%, it is totally reasonable, and quite common, to ask for a 3% price discount since you have no agent. Any sensible seller would take your offer as it means they are getting the same amount of money.
I'm not saying this always "works", but sometimes people act like these are rules that are set in stone, as opposed to things you can negotiate for.
Back in the early 00s I went with a discount listing agent who only charged 1%. They recommended I still give 3% to the buyers agent, but I said fuck that, and only offered 2% (market wasn't crazy strong but also wasn't weak), and the buyer's agent accepted that. So all in I sold my house for 3% instead of 6%, which I thought was totally fair given the amount of work the agents did.
This whole thing is about agent commissions. The comment I'm replying to says "just list it yourself" in direct response to "I would love for there to be some sort of competition injected into real estate commissions."
How in the world in that context is "the agent's commission...irrelevant?"
The "standard" in the US is that the sellers pay 6% commission, with 3% going to their listing agent, and 3% going to the buyers agent. If, as a buyer, you show up without a listing agent and don't demand 3%, it is totally reasonable, and quite common, to ask for a 3% price discount since you have no agent. Any sensible seller would take your offer as it means they are getting the same amount of money.
I'm not saying this always "works", but sometimes people act like these are rules that are set in stone, as opposed to things you can negotiate for.
Back in the early 00s I went with a discount listing agent who only charged 1%. They recommended I still give 3% to the buyers agent, but I said fuck that, and only offered 2% (market wasn't crazy strong but also wasn't weak), and the buyer's agent accepted that. So all in I sold my house for 3% instead of 6%, which I thought was totally fair given the amount of work the agents did.