🔥REALTORS! Stop Being Afraid Of The New NAR Rules On Buyer Compensation! Do This And Get Paid!💰

[@bkstroh]

If a buyer brought my seller an offer from an attorney, I would go over it with my client, but I'd have to advise the seller that they should have their own attorney review it because real estate agents are not attorneys and we are not here to interpret legal documents outside of those we are trained to. I can bet that once you advise the seller of this, they are going to say let's take another offer that's not such a hassle... I would only suggest buyers use attorneys when buying homes directly from the seller with no agent involved at all, otherwise they'll likely be wasting money. Also I doubt any attorney will include arbitration and mediation, they're attorneys after all... Most sellers do not want offers that where buyers don't agree to mediation.

[@gabequezada2066]

Its not even about fear in regards to the buyers broker compensation. Its about the constant change in policy that is delivered to realtors but their associations that arent delivered fast enough to us or the flip flopping that puts us in legal hot water which can arise years later.. It feels like no one has our backs here which is the problem... A big problem

[@MattArmstrongunlimited]

Thanks Kelly!

[@closingninja]

Boom!

[@michaelmelodymeoni7841]

What about the rule that brokers compensation from any source will not exceed the amount of compensation in written agreement with the buyer. How do you handle that when you are making an offer to the seller. Wouldn't that mean that you would have to have 3.5 or 4% on the buyers brokers agreement?

[@DamianaMendesPonce]

I LOVE IT

[@waterbug1135]

Buyers could try and figure this all out in order to give $15,000+ to an agent... ...OR... Buyer can find properties they might want on Zillow, RedFin,, etc... and call the number to see the house. If listing agent refuses to show the house then go knock on the door and ask the owner or whoever lives there. Leave a nice note if no one there. The seller is responsible for all the required disclosures and they can fill out a standard purchase contract. Title company makes sure you're getting clear title. Loan broker handles the mortgage details. Appraiser makes sure the price is reasonable. Home inspector makes sure house is in reasonable shape. What's the buyer agent do? If you want to back out of a purchase contract then go ahead. Extremely rare for a seller to hire a lawyer to get a judgement to force you to go thru with the purchase or get escrow to give them the deposit. Expensive and they can't sell the property for months. Seller just release the deposit and everyone gets on with there lives. 30% of accepted offers fall out. It's very standard.

[@youtubeuser5735]

Buyers agent has contacts to help resolve title issues when title company can’t figure it out (real world example on deal I helped a buyer close). Buyer agent knows how to negotiate to resolve repair issues found during inspections. (Most recently black patina found on copper piping originally thought to be sulphur from Chinese drywall turned out to be a well water issue. Saved buyer over $1,000 in inspections) Buyer agent has lender contacts to fund the deal when original lender won’t underwrite the loan. Buyers agent know negotiation strategies when it comes to seller concessions when repair or down payment issues arise. I could represent myself in court but it might be way less stressful and expensive and the results might be better if I hired a lawyer. …. It’s not a bag of peanuts it is the most expensive purchase most consumers will make in their lifetimes. If buyers have the skills to go it alone then they should, if they don’t then they should pay a buyers agent for a valuable service that takes stress off of their plate and saves them time and money in the long run. There’s a reason system has worked well for over 100 years.

[@stargazer5073]

Everyone needs to earn a living, I support workers.

[@rickdepalma9083]

Correct me if im incorrect. what is stopping all listing agents from remaining the same in compensation as before this happened?

[@nickshomehacks]

Nothing. It's SOME sellers probably the minority who will legitimately try to not offer a buyer agent commission. I've listed multiple weeks before this took affect and all my sellers agreed to just offer the same commission structure as before.

[@youaregoingtolovethis]

Everything will pretty much stay the same. The only difference is the commission paid to the buyer's agent can't be listed on the MLS and must be discussed between the buyer and their agent. Sellers will generally still cover it in most cases but they just can't come out and say it on paper. It is very dumb and sad it has come to this. Commission will have to come down though as all the attention is now on it and people are waking up to how much they have to pay and paying on these expensive homes. Doesn't make sense to be paying 3% on million dollars homes to agents plus all the other closing costs that is around 3% too for shitty expensive houses. Something is got to give. All when the economy tanks and peole will lose their homes their will be a glut of homes on the market that will only further tank the price.

[@woodyahh2110]

No buyer is going to pay anything above or beyond there part of the closing cost in some instances the seller pays all fees for the simple reason if they don’t no one is going to buy there property

[@youaregoingtolovethis]

Yep. It all comes down to how bad the seller want and needs to sell versus how bad the buyer wants it. If nobody wants the house and it sits the seller would have to pay the buyer's agent in concession.

[@kathys9173]

If a buyer figures out that they are the ones paying 15,000 vs 2500, they might not want you to get the full commission. Right? Hmm...

[@kaciparson2803]

No the 2.5 percent comes from the seller.

[@jetcontracting4244]

You are allowed to give a non licensed person a cut?

[@closingninja]

In Florida I can give a gift to my client at closing.

[@rickdepalma9083]

Are you sure? Both buyer & seller must agree to this in writing.

[@closingninja]

@@rickdepalma9083 I can do this in Florida

[@rickdepalma9083]

@jetcontracting4244 being a Florida Realtor for 22+ years, my impression has been that you can not do that without concent from both parties. Has this recently changed?

[@closingninja]

@@rickdepalma9083 I ALWAYS

[@kimm5555]

Seriously....so your gonna flip the purpose of the settlement around so it costs the seller even more. What if sellers decide not to sell since your imposing the idea of sticking it to the sellers even more than before.

[@closingninja]

I get your frustration. A seller does not have to agree to anything. What the settlement did was to make sellers by default MLS LISTED For Sale By Owners!

[@jetcontracting4244]

Your form also has a lot of blanks fyi

[@rondorazio4921]

This "law" is bs for the buyer. Expensive bs! So unless there is some kind of law saying I can't (and I don't think there is), I plan on going to open houses or the listing agent just as a way to see a property without having to sign an exclusive agreement with anyone. Then, if I decide to make an offer I'll find a buyer's agent with a reasonable buyers agreement to handle the process.

[@closingninja]

Well Said NINJA!