What do I do now?

What do I do now, in light of the current industry litigation?

• Explain to buyer and seller prospects what’s going on in the marketplace.

• Tell them about the VALUE you bring to the transaction.

• In the past, you didn’t have to explain the benefits you bring to the buyer with or without a buyer broker contract – for payment, you could rely on the MLS offer of compensation – regardless of your skills and experience.

• There’s a misalignment of interest: the higher the transaction price, the more commission the buyer agent is paid.

• There may be ways to transact around “no offers of compensation.”

• Lenders want to make loans, so we can anticipate that the Housing Finance Industry will consider policy changes.

• Avoid Steering – if seller does not offer enough buy side commission, other agents may not show the property.

• Even in a Seller’s market, the typical buyer side commissions did not come down.

• Know what to say and what not to say. There may be ways to transact around some of the pain points.

Share This Post

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay connected.

Get up to the minute updates and resources.

Other Articles

Stay Connected.

Get up to the minute updates and resources.