BOTTOM LINE - KNOW THE FACTS!
Between Competing Brokers - Commissions are and have always been negotiable. Competing Broker Agencys - this means different Real Estate Companies cannot set commissions, that IS Anti-Trust.
Each Brokerage company onto themselves solely to their own Brokerage company can set their own commission rates and DO NOT have to be negotiable. Every agent as an independent contractor working ONLY with their Brokerage company where their license is held, can set his/her commission. This is NOT Anti-Trust.
Coming August 17th, 2024 - Only 2 changes are taking place!
Commissions and or any wording regarding compensation cannot be displayed or entered into the MLS.
Buyer's must enter into a Buyer Broker Agreement with an agent PRIOR to touring a property LIVE or by VIRTUAL
THAT'S IT!
1. SELLER'S MAY CONTINUE TO PAY THE BUYER BROKER COMMISSION AS PART OF THE PURCHASE AGREEMENT
2. SELLERS MAY CONTINUE AT THEIR OWN DISCRETION TO OFFER A SELLER'S CONCESSION OR PROVIDE A BUYER BROKER COMMISSION PAYABLE OUT OF THE SELLER'S PROCEEDS AT CLOSING - COMMISSION JUST CAN'T BE DISPLAYED ON MLS
3. BUYERS WILL AND MAY CONTINUE TO ADD THEIR BUYER BROKER COMMISSIONS AS PART OF THEIR OFFER TO PURCHASE
Dear Home Buyers and Sellers,
As your trusted real estate professional, it is my privilege to guide you through market change of every kind. Recently, you may have seen news headlines about the National Association of REALTORS® (NAR) lawsuit and its subsequent settlement, which have brought significant attention and, unfortunately, a great deal of misinformation about the way real estate services are rendered and compensated.
Why is this important for you? The outcome of this lawsuit and the media coverage may influence how you negotiate with agents, understand commission fees, and ultimately make decisions in buying or selling properties. I want to ensure that you have the clarity and knowledge to make informed decisions based on facts, not conjecture, that align with your financial and personal goals in the real estate journey.
The guide will delve into some of the top consumer questions surrounding the lawsuit and break down complex legal jargon into comprehensible insights.
There is still much to learn as we anticipate changes with the mandated forms from the Department of State and our local board. As I learn more verified information, I will continue to update this post.
I am committed to upholding the highest standards of transparency, fairness, and professionalism. My goal is to continue providing exceptional service and support, empowering you to achieve your real estate aspirations with confidence and peace of mind.
Your and your family's best interests are a top priority. I am here to provide the highest level of professional real estate need, and I thank you for your trust in me as both a resource and an advocate.
Please send me an email with your name, email, phone, address and request to receive this guide. Your information is not shared with anyone.
With gratitude,
LOVELEE M. APARICIO-VETRI
Email: [email protected]
