To Our Valued Clients & Community,
You have more than likely encountered headlines signaling changes in how real estate commissions may work in the future. As your dedicated real estate professionals, we want to ensure you have a clear understanding of what these proposed changes mean for you, whether you’re thinking of buying or selling a home.
Understanding the Changes:
Recent discussions have centered around a settlement that, if approved, might alter how real estate commissions are presented and agreed upon. Here's what you need to know:
• No More Commission Details in MLS Listings: The settlement suggests that sellers will no longer be allowed to offer a commission to a buyer’s agent in the Multiple Listing Service. However, it does not mean sellers can't compensate the buyer's agent—just that it won't be advertised publicly.
• Written Agreements for Buyers: If you’re buying a home, you'll need to sign a contract with your agent outlining the services they will provide and the compensation they will receive, which may or may not come from your pocket.
• Seller Strategies: As sellers, you still have the option to negotiate compensation to the buyer's agent, which can be a strategic move to increase your home’s appeal and competitive edge in the market. Such incentives are typically covered through the transaction, not out-of-pocket.
• Navigating as a Buyer: While being unrepresented on the purchase of a home is possible, it comes with many challenges—finding the property, negotiating, and managing the process, are intricate tasks that experienced agents handle on your behalf. Click here for a list of 105 tasks performed by a buyer’s agent.
Why Professional Guidance Matters:
For Sellers: You're not just selling a house—you're making a significant financial transaction that requires careful marketing and negotiation to get the best possible outcome. An experienced agent can navigate this complex process for you, potentially avoiding costly pitfalls.
For Buyers: Buying a home requires understanding the market, recognizing the value, and executing numerous legal and financial steps. An agent’s expertise is invaluable in ensuring you make a sound investment without undue stress.
Looking Ahead:
These potential shifts in the traditional real estate model may bring opportunities and considerations for both buyers and sellers. What’s crucial is to have clear and professional guidance to support you through the evolving landscape of real estate transactions.
I invite you to reach out to us with questions or for advice. Your best interests are of the utmost importance to us, and we’re here to ensure you’re well-informed and prepared for whatever changes come our way. For 102 years, our company has skillfully navigated every significant market fluctuation and challenge, and we stand ready to forge ahead with that same resilience and adaptability for the next century and beyond.
Best,
Jason Christiana
President
Berkshire Hathaway HomeServices Blake, Realtors®
518-452-4298 ext. 1219
