What Sellers Should Know
If you are considering selling your home, please take a moment to learn about some recent real estate industry changes.
COMMISSIONS
TO BUYER'S AGENTS
SELLERS OR PROSPECTIVE SELLERS—PLEASE READ:
In light of recent court precedent, The National Association of Realtors® has recently passed rules in regards to how home sellers pay commission fees at closing. Traditionally, the buyer’s agent (like the seller’s agent) would be paid out of the proceeds paid to seller—as would all other fees and commissions—such that the title company would simply pay each agent at the time of closing with the specified funds. Although the prior system wasn’t perfect, this approach was ideal in getting serious, pre-approved buyers who were represented by agents to purchase listed properties. But with new legal changes taking effect this summer, sellers now have discretion on what they offer buyers’ agents when selling their home. The seller’s agent commission fees help pay for:
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the multiple listing service
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visibility/alerts to over 8,500+ Realtors® in central Ohio
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24/7 appointment scheduling
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home visibility to Zillow, Realtor.com, Homes.com, other third party sites
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pricing strategy meeting
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custom website landing page
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open houses
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signage
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mailings
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brochures
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marketing
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3rd party advertising and social media highlights
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brokerage advertising
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lockbox
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errors & omissions insurance,
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negotiating time
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deliverance and presentation of offers
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reliable and responsive communication
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comparative market analysis for appraisers
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transaction compliance and oversight
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esuring the seller is being provided quality representation
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additional platinum listing marketing available *optional add-on
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virutal staging *optional add-on
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in-house design *optional add-on
PROS TO OFFERING BUYER AGENT COMPENSATION
Using the traditional approach to buyer’s agent compensation ensures: only pre-approved buyers enter your home, safety & security of your property when touring your home, networks to know the right buyer to give you the best offer, market knowledge to know how to write and present solid offers to the sellers including but not limited to appraisal gap money, inspection, remedy negotiation, earnest money, property verification, and escalation situations. Not offering to pay a buyer’s agent via the traditional approach means that less buyers (and their agents) will consider your property, possibly resulting in less offers and a lower market price for your property.
When officially listing a property in the MLS—we would suggest sellers offer fair compensation to the buyer’s agent. This allows sellers and their agent to attract the most serious buyers while keeping each party equally and fairly represented. Both representing REALTORS® (for buyer and seller) are bound by a code of ethics to provide due diligence for their respective party. Sellers can adjust the offered compensation to the buyer’s agent. The representing fees will be disclosed on the ERS when sellers sign their initial paperwork. Payment of these fees have not changed and will continue to be distributed by the title company at the time of closing.
OUR PROFESSIONAL SUGGESTION
LEARN MORE ABOUT WORKING WITH US AS BUYING AGENTS
With your
everything is possible.
At Homease Real Estate Co. we are a full-service boutique real estate brokerage specializing in Central Ohio neighborhoods. Our comprehensive in-house team brings unparalleled management, marketing, staging, design, legal and event-planning experience to our real estate clients. We hope you will take a moment to meet our agents, review what we offer, and reach out to see how we can best help you in your real estate journey.
