Change brings opportunity a lot of...
The following local update was published on August 14, 2024 by Amanda Rickman, a dedicated real estate professional serving the Buda & Kyle, TX area.
Change brings opportunity a lot of times and in order for that opportunity to happen, it’s important to educate!
National Association of Realtors put out some new rules that go into full effect August 17th. What are these rules? A couple of the big changes are that Realtor Compensation can’t be advertised on MLS and buyers MUST have a buyers rep agreement with their agent prior to viewing homes. This brings on a lot more conversation and transparency when negotiating fees. Some agencies will still be negotiating compensation for the buyers agent into their listing agreement and some will not.
My brokerage will not and when I have a listing agreement, it’s strictly to negotiate my listing compensation, BUT I still strongly suggest a seller to expect and be open to negotiate buyers agent compensation if asked in an offer because 1- Most times, a buyer does not have both their down payment and agent fee. 2- When you’re open to negotiating this, it opens your home up to more views from buyers who can’t pay their fee. 3- As a seller, it is in your best interest for a buyer to be equally represented rather than being unrepresented.
If I’m the buyers agent, we will negotiate my fee and discuss if we need that to be negotiated into the purchase or if they can pay it themselves. Or maybe one can pay a portion of it, but not all of it.
There’s a common goal on the buyer and seller side of things and that is to get to the closing table. Every transaction is going to be different in order to get there and everything is negotiable.
Bear with us, we will all be in a learning curve for a bit. I’ll leave you with this: be open minded and open to conversation because communication is key to get the keys 🔑
#changebringsopportunity #transparency #narlawsuit #realtorlife #educate #modernrootsrealtygroup #rogprosper
National Association of Realtors put out some new rules that go into full effect August 17th. What are these rules? A couple of the big changes are that Realtor Compensation can’t be advertised on MLS and buyers MUST have a buyers rep agreement with their agent prior to viewing homes. This brings on a lot more conversation and transparency when negotiating fees. Some agencies will still be negotiating compensation for the buyers agent into their listing agreement and some will not.
My brokerage will not and when I have a listing agreement, it’s strictly to negotiate my listing compensation, BUT I still strongly suggest a seller to expect and be open to negotiate buyers agent compensation if asked in an offer because 1- Most times, a buyer does not have both their down payment and agent fee. 2- When you’re open to negotiating this, it opens your home up to more views from buyers who can’t pay their fee. 3- As a seller, it is in your best interest for a buyer to be equally represented rather than being unrepresented.
If I’m the buyers agent, we will negotiate my fee and discuss if we need that to be negotiated into the purchase or if they can pay it themselves. Or maybe one can pay a portion of it, but not all of it.
There’s a common goal on the buyer and seller side of things and that is to get to the closing table. Every transaction is going to be different in order to get there and everything is negotiable.
Bear with us, we will all be in a learning curve for a bit. I’ll leave you with this: be open minded and open to conversation because communication is key to get the keys 🔑
#changebringsopportunity #transparency #narlawsuit #realtorlife #educate #modernrootsrealtygroup #rogprosper
For more information regarding this update, or to explore active real estate opportunities in Buda & Kyle, TX, please contact Amanda Rickman directly or browse the featured properties below.
Title