RE IQ test #2
Here is the explanation for RE IQ test #1
At the beginning, there is only one listing agent to represent the seller. Buyer contact listing agent directly. That's why seller is the market maker. There is only "house for sale" ad. Never see "home to buy" sign. Due to this seller market nature, house price normally always went up, plus inflation factor. If it is buyer market (just right now), it means something was wrong.
Late on, in order to expend the market exposure and increase competition, buyer’s agent comes out. From legal side, buyer agent represents buyer and shall work and protect for buyer interest, but from real estate industry view, buyer agent is helping listing agent to sell the house. That what “selling” mean. It is from listing agent view!
Who paid real estate transaction commission? Buyer or seller?