We have all made purchases in the past, but how many of them were based on negotiating a price? Buying a vehicle, something on Ebay, Marketplace or other similar sites, maybe? Consider this, a sale or purchase of real estate is one of the largest sales or purchases a person makes in a lifetime where the price, terms and conditions are all negotiable! The commission paid for a sale or purchase is also negotiable and always has been. Time to call a pro! Let’s learn about how commissions are paid and who pays. You will discover the very reason why representation is crucial to achieve your real estate goals. Read on.
- The landscape of real estate began to change on August 8th when all MLS services (Multiple Listing Service) were no longer permitted to publish a fee to the buyer’s agent in accordance with the NAR (National Association of Realtors) lawsuit settlement. In addition, as of August 17, all buyers are required to sign a touring agreement before touring a property, also in accordance with this lawsuit. It is also prominently noted that real estate commissions were always and continue to be negotiable.
- What this means to sellers is that the commission paid to the buyer’s agent is negotiable. It can be a straighforward buyer’s agent commission which is a % of the purchase price, a seller’s concession, a flat fee OR the buyer’s agent can request commission with their offer. This is negotiable! These options move a seller towards the most important goal of the sale which is to net the most. Our commission as a listing agent is also negotiable and commensurate with our skill and knowledge.
- What this means to buyers is that they will need to sign a touring agreement with their agent. This agreement is negotiable! The terms of the agreement will be in accordance with the wants and needs of the buyer. A buyer’s agent can receive compensation from the buyer, from the seller through buyer agent compensation, or from the seller’s concession to the buyer.
There is a lot to process here! These points need further explanation and will be discussed in a seller and/or buyer consultation. Schedule your no obligation conversation by clicking here. Education, advocacy and your best interest is our top priority and that is NOT negotiable!
Why You Need a Buyer’s Agent. Like any endeavor, having an experienced professional is vital to successfully attaining your goals. You need someone in your corner representing you and giving you the advice you need to make your best decision.
Experienced Buyer agents:
- deeply understand local neighborhoods and current local market trends and values
- can access both on and off market home inventory
- advise you on finding your perfect home and effectively negotiating offers, counteroffers and multiple offers
- connect you with their network of experts like lenders, home inspectors, attorneys and quality home repair and maintenance people
- efficiently navigate the contract, inspection, appraisal, title and closing process
Experienced Seller agents:
- deeply understand local neighborhoods and current local market trends and values
- negotaite offers, counteroffers and multiple offers
- are a resource and connect you with their network of experts like attorneys, and quality home repair and maintenance people
- efficiently navigate the contract, inspection, appraisal, title and closing process
- has a solid marketing program that includes professional photography and video
- has an online presence on a website, social media and Google Business
ne·go·ti·a·ble adjective open to discussion or modification.
We take pride in the way we care for our clients and we want you to understand what we do, why we do it and how we get it done. Driving you home!
THE RONALD MIDILI HOME TEAM
“Our mission is to help you to understand the real estate process and all things involved with it. We educate to help you gain clarity about your goals and dreams whether selling, buying or investing. We are intentional about our actions and are committed to timely communication. We offer guidance and resources for you and your most valuable asset.”