COMMISSION MISINFORMATION

I want to address recent headlines that have caused confusion and concern in our industry. It's disheartening to see several reputable news sources present information that can be misleading and potentially harmful to both Buyers and Sellers.

 There has never been a "standard” commission. Over the years, I've seen listing agents charge significantly varying degrees of fees, while buyers' agents have been paid less wages than working at a fast-food restaurant. The wide range demonstrates that there's no "standard" about commission rates; "on average" or "median" would be more accurate terms.

Commissions are not being eliminated, but they may be negotiated in a different, more confusing manner. The proposed change involves dropping language in MLS listings that specifies what will be paid to cooperating brokerages.

There's a misconception among Sellers that they solely bear the cost of a transaction, but this is incorrect. Buyers pay for the entire transaction, including all commissions. The Sellers experience the fees in a reduction of the amount received from the contract total. This is often obscured in paperwork, leading to misunderstandings.

The current system allows all parties to pay for their representation at closing, rather than directly from their pockets. However, proposed changes could disrupt this balance, affecting both Sellers and Buyers.

I've been in this industry for many years, and while I believe we will adapt and find solutions, I'm concerned about the potential impact on Sellers and Buyers. Misinformation may lead some to believe they can navigate a real estate transaction without professional guidance, which can be risky.

Buyers Agents play a crucial role in guiding clients through the complex process of buying a home. From navigating listings to negotiating deals and handling legalities, their expertise is invaluable.

I want to assure my clients, both Buyers and Sellers, that my commitment to protecting your interests remains unwavering. I am here to navigate these changes with you and ensure a smooth and successful experience.

In conclusion, while there have been successful transactions without Realtors involved, the risks and complexities involved make professional representation essential. Let's work together to navigate these changes and continue to protect your best interests.

If you have any questions regarding this or any other misinterpretation or misinformation, please reach out to me as I’m happy to clear up any confusion.

Contact Form:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.