
27 Creative Business Cards To Stimulate Your Inner Marketing Genius
When you hand someone your business card, you’re giving them a small, but important introduction to who you are. Much like resumes and cover letters,
If you’ve been planning on selling your house, or are currently in the middle of doing so, you’ve probably heard that there will be some changes in how your home can be listed and marketed, with regard to a commission being offered (or not) to buyers’ agents.
While some listing agents may already be implementing the changes ahead of time, as of August 17, 2024, your agent cannot include an offer to compensate buyers’ agents on a Multiple Listing Service (MLS), which is a local marketplace used by both buyer brokers and listing brokers to share information about properties for sale.
Some sellers may misinterpret this as saying that they’re no longer allowed to offer compensation to buyers’ agents at all, but a recent article from the National Association of REALTORS® clarifies that you certainly can offer compensation to buyer brokers, “as a way of marketing your home or making your listing more attractive to buyers,” as long as the following is done:
That said, sellers aren’t obligated to offer any compensation to buyers’ agents, and some sellers may decide against offering to pay a commission to a buyers’ agent.
While that may sound appealing, and like a way to save or make more money on the sale of your home, there are some things you might want to keep in mind before taking that approach.
On the other side of the equation, buyers will now be required to sign an agreement with any agent who is showing them even a single house. Their agreements will include an amount of compensation the buyer agrees their agent is entitled to earn, and, technically, the buyer is agreeing to pay that amount if the seller of the house they want to buy isn’t willing to pay it.
But before you opt to let the buyer be responsible for paying their agents commission out of their own pocket, here are 2 reasons you should consider offering to pay a commission to buyers’ agents:
The Takeaway:
Starting August 17, 2024, your listing agent can’t include an offer to compensate buyers’ agents on the Multiple Listing Service (MLS), but you can still offer compensation as long as it’s disclosed and approved by you. While not offering to pay buyers’ agents might seem like an appealing way to save money, it could actually cost you in the long run by reducing the number of offers and potentially lowering your final sales price. Offering compensation can make your listing more attractive and help sell your house faster, and for the highest price possible.
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