SUMMER IS HERE!
BUYER'S agency fees explained & Common questions
The Real Estate Industry is Changing
With the recent verdict in the Sitzer / Burnett Sherman Anti-Trust Trial, we anticipate some pretty big changes as it relates to real estate commissions. For the better part of the last 3 decades, commissions paid to a buyer's agent came through the listing agent via an agreement with the seller. This meant that buyer's typically did not have to worry about compensating their agent directly. This may change in 2024. Sellers may not offer compensation to a buyer's brokerage in the future so buyer's may be asked to compensate their real estate brokerage for services. While no changes to the current compensation structure has occurred, we feel it is important to exercise maximum transparency when it comes to the subject of compensation and to set expectations accordingly.
What If A Seller Doesn't Offer a Buyer's Agent Commission?
We will always show you any property that is listed for sale that you would like to view even if there is no compensation offered to us by the seller. Our fiduciary responsibility is to you the buyer and we take that very seriously. Our fees are always negotiable and we would be more than happy to discuss your options when it comes to any of our Buyer's Agency services.
Why Do We Negotiate A Buyer Agent Commission When a Seller is Offering To Pay the Buyer's Agent?
We always negotiate buyer's agency commissions with all our buyer clients. We believe every buyer should be informed of how buyer's commissions work and how they can take advantage of Buyer Commission Credits if the opportunity should arise.
What are Buyer's Commission Credits and How Does It Benefit Me?
We always negotiate buyer's agency commissions with all our buyer clients. In the event, that a seller is offering a Buyer's Agency commission greater than the fees we negotiated with you, the excess is converted to a credit that can be used to pay part of your closing costs. Some restrictions may apply. Please contact us with any questions.
What if we need some help with closing costs or a down payment?
There are Down Payment Assistance and other programs available to prospective home buyers. Please contact us for details.