New changes in real estate transactions are altering how agents are paid, impacting both buyers and sellers.When your real estate agent lists your home, the commission is no longer included in the Multiple Listing Service (MLS), the database agents share. Commissions still exist and are negotiable. Sellers can still offer to pay buyer fees, just as they might cover the cost of a home warranty or other expenses.”It’s definitely made agent pay a bigger part of the conversation,” said Krishon Harris, a real estate agent for Reece & Nichols.Agents say high interest rates are keeping homes on the market longer, for 30 to 40 days in some cases.”It is in the offer acceptance process when buyers will find out how much they owe their agent,” Harris said.Sellers can still offer to pay buyer fees, just as they might cover the cost of a home warranty or other expenses.”As a buyer, your biggest change is that you have to have a written agreement with an agent before you go see a house,” Harris said.He says when and how fees are discussed is the biggest change.”When you are a buyer and you make an offer on a house, you’ll include in the offer what you’re asking the seller to pay your agent,” Harris said. “The seller can agree to that. They can counter, reject it, or whatever.”
New changes in real estate transactions are altering how agents are paid, impacting both buyers and sellers.
When your real estate agent lists your home, the commission is no longer included in the Multiple Listing Service (MLS), the database agents share. Commissions still exist and are negotiable. Sellers can still offer to pay buyer fees, just as they might cover the cost of a home warranty or other expenses.
“It’s definitely made agent pay a bigger part of the conversation,” said Krishon Harris, a real estate agent for Reece & Nichols.
Agents say high interest rates are keeping homes on the market longer, for 30 to 40 days in some cases.
“It is in the offer acceptance process when buyers will find out how much they owe their agent,” Harris said.
Sellers can still offer to pay buyer fees, just as they might cover the cost of a home warranty or other expenses.
“As a buyer, your biggest change is that you have to have a written agreement with an agent before you go see a house,” Harris said.
He says when and how fees are discussed is the biggest change.
“When you are a buyer and you make an offer on a house, you’ll include in the offer what you’re asking the seller to pay your agent,” Harris said. “The seller can agree to that. They can counter, reject it, or whatever.”
This article was originally published by a www.kmbc.com . Read the Original article here. .
