Discussing the key benefits of offering competitive buyer agent rates.
In case you don’t know, the real estate world was flipped on its head recently. A lawsuit against the National Association of Realtors is challenging how buyer agents get paid, and it’s left a lot of people confused. Here’s the short version: A court recently ruled that the current structure of buyer’s agents’ commissions was illegal and needed to change. In the past, the seller would pay full commission to their agent, and the seller’s agent would then split that commission with the buyer’s agent. In this way, the buyer wouldn’t actually need to put any money down for their representation. Now, the buyer commissions are negotiated separately from the seller side. So, do you still need to pay the buyer’s agent’s commissions when selling your home? If you want the best representation possible, yes, and there are a few key reasons why.
You can listen to my full explanation in the video above or skip to each topic using the timestamps provided:
0:00 - Introduction
0:30 - Commission structures
1:00 - Listing agents can’t advertise compensation
1:30 - How buyer’s agents get paid
2:15 - Buyer’s agency agreements
3:21 - Paying buyer’s agents can help your home stand out
4:40 - Buyer’s want to work with a professional
5:04 - Wrapping things up
If you have questions about this topic or anything else, please call or email us. We’d love to hear from you!
