The 2 Ingredients of a Viral Post
“Going viral” is such a subjective term, isn’t it? Ask ten people to name the point when something is officially “viral” and you’ll get ten
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.
(Shh, our secret)
Show your sphere your an expert. We have over 1950 articles covering every real estate topic your audience will love.
Position yourself as a real estate authority!
Real estate + topical events — the perfect match!
Become the bearer of good vibes!
Because hey, everyone loves to laugh!
Get our weekly email that makes communicating with your sphere on social actually enjoyable. Stay informed and entertained, for free.
“Going viral” is such a subjective term, isn’t it? Ask ten people to name the point when something is officially “viral” and you’ll get ten
Most people looking for info on how to become a real estate agent are just wanting to learn how to get licensed and, ultimately, “hired”
Fair Warning: This story isn’t exactly short. BUT… if you stick with me til the end, AND you’re a real estate agent, you’ll receive a
If you’re thinking about becoming a real estate agent, you’re probably aware that you don’t make a dime until (and unless) you sell a house.
As the saying goes, you shouldn’t judge a book by its cover. But when you’re hiring a real estate agent, it can be easy to
This reset password link has expired. Check the latest email sent to you.