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( Subscribe ) Jrue Holiday Scores Again! Celtics Champ Buys a $6.5M Mansion In a Posh Boston Suburb Boston Celtics star Jrue Holiday has plenty to celebrate. The talented point guard just helped his team win their 18th NBA Championship by beating the Dallas Mavericks in five games. And a few weeks before snagging his second championship ring, Holiday picked up a rather impressive modern mansion in Newton, MA , for $6.5 million. Source: Realtor.com Boston 2024 Champions Jayson Tatum Jaylen Brown Bootleg Style T-Shirt Related Videos: Celebrity chef Guy Fieri slashes asking price of Florida waterfront mansion! Derek Jeter finally found a buyer for his unique mansion in upstate New York after slashing the asking price by more than $8 million. Anna Kay My Home, My Sale

( Subscribe ) Jennifer Lopez and Ben Affleck quietly listed their Beverly Hills Mansion! Jennifer Lopez and Ben Affleck have reportedly listed their marital home – a $60 million architectural phenomenon, complete with a wine cellar, spa, and zero-edge pool. However, it will come as no surprise that even the living and cooking areas have set the standard for modern interior desgin and Californian luxury. According to TMZ , JLo and actor Ben Affleck have enlisted real estate agent Santiago Arana from The Agency to sell the property, which they purchased in June 2023. See Zillow Photos Source: Homes & Garden ( Article ) Related Videos: Adele's $58M Mansion Makeover: Why She Hasn't Moved In Yet! #Adele #CelebrityHomes Christina Ricci's $2.2 Million Home Sale: A Fresh Start #ChristinaRicci #Hollywood #celebrityrealestate Advertise with us >

( Subscribe ) Catherine Zeta-Jones and Michael Douglas List Their New York Estate for $12 Million If you’ve always wanted to live the life of a Hollywood power couple, this star-studded residence in New York ‘s Hudson Valley could be just the ticket! As first reported by The Wall Street Journa l , the picturesque 12-acre spread owned by married actors Catherine Zeta-Jones and Michael Douglas has just popped up for sale in the coastal village of Irvington, asking $12 million. The listing is held by David Turner of Compass. Source: Robb Report ( See Article ) Related Videos: Derek Jeter finally sells his '$6 million' lakeside castle #derekjeter #celebrityhomes Sydney Sweeney's Luxurious $13.5M Florida Retreat! #celebrityrealestate #celebrityhomes

Thinking about selling your home? Understanding realtor fees is crucial to maximizing your profit. In this video, we break down everything you need to know about realtor commissions, including how they’re calculated, what services are typically included, and how recent changes in real estate regulations might impact what you pay. We’ll also explore strategies for negotiating fees and making sure you get the best value from your real estate agent. Whether you’re a first-time seller or experienced homeowner, this guide will help you navigate the selling process with confidence. My Home, My Sale - your ultimate destination for real advice in a world inundated with real estate noise! Tired of sifting through social media fluff and advertising about buying, selling, or owning a home? Us too. That's why we're flipping the script. Were Not Real Estate Agents or home buyers. Just straight-up, no-nonsense advice, tips, and info for homeowners and soon-to-be homeowners. Dive into our videos for expert insights, transparent discussions, and actionable guidance to navigate the complexities of homeownership with confidence. Subscribe now and join the My Home, My Sale community. Related Videos The New Buyer Agent Agreement—Take Control of Your Home Purchase! Reddit User's Real Estate Dilemma: Agent Drama! My Home, My Sale

The Shift in Real Estate: What Homebuyers Need to Know! The recent legal settlement involving the National Association of Realtors ( NAR ) has introduced sweeping changes to the real estate industry, particularly in how buyer agents and their commissions are handled. This new landscape offers homebuyers more control over their purchasing process, but it also requires a deeper understanding of the new rules and how to use them to your advantage. This article is designed to be your go-to resource for navigating the new buyer agent agreements and understanding how to maximize your benefits as a homebuyer. 1. No More Automatic Buyer Agent Commissions One of the most significant changes is that sellers are no longer required to automatically offer compensation to buyer agents through the Multiple Listing Service (MLS). This means that as a buyer, you may be expected to negotiate and cover your agent's commission, typically around 3%, unless you make other arrangements. Key Advantage:  You now have the flexibility to negotiate these fees directly with your agent or even explore different compensation structures, such as hourly rates or flat fees, depending on the level of service you need. 2. Are You Required to Sign an Exclusive Agreement? Under the new rules, you are not required to sign an exclusive buyer agency agreement. You must, however, have a written agreement with any agent before you begin touring homes. This agreement should outline the terms of your relationship, including how the agent will be compensated. ( Example Buyer Agent Agreements ) Key Advantage:  You can choose to sign non-exclusive agreements with multiple agents. This allows you to explore different options without being tied down to one agent. You can have different agents help you with different properties or even decide to negotiate directly with sellers or listing agents. 3. Can You Contact the Listing Agent or For Sale By Owner (FSBO) Directly? Absolutely. If you prefer, you can contact the listing agent directly or even negotiate directly with a homeowner selling their property without involving a buyer's agent. This could save you on commission fees, but it also means you’ll be representing yourself, which might be challenging if you're not familiar with the process. Key Advantage:  Direct negotiation might allow you to get a better deal by avoiding the buyer agent's commission altogether. However, be prepared to handle the negotiation and paperwork yourself. 4. Working with Multiple Agents The new rules allow you to work with several agents simultaneously, as long as you have a written agreement with each. This could be beneficial if you're looking at properties in different areas or need specialized knowledge for certain types of homes. Key Advantage:  Flexibility in working with multiple agents can give you broader access to the market and specialized expertise without being tied to a single agent. 5. Are You Required to Pay a Commission? If you choose to work with a buyer’s agent, you will need to agree on how they will be compensated. While you might have to pay the commission out of pocket, you can negotiate these terms upfront. If the deal falls through, typically, you wouldn’t owe a commission unless otherwise specified in your agreement. Key Advantage:  You have the power to negotiate these terms to ensure they align with your budget and the level of service you require. New Buyer Agent Agreement Rules Explained! 6. What if You Only Need Help with the Contract? If you’re confident in your ability to find a home and negotiate the purchase price but need help with the contract, you can hire an agent or real estate attorney just for that specific service. This allows you to pay only for the assistance you need. Key Advantage:  This approach can save you money by only paying for professional help when absolutely necessary, rather than committing to a full-service commission. 7. What Happens If the Deal Falls Through? If your deal falls through, whether due to financing issues, inspection problems, or any other reason, the commission agreement you have in place may dictate whether you owe anything. Typically, no commission is due unless the sale is completed, but this depends on the specifics of your agreement. Key Advantage:  Carefully reviewing and negotiating your agreement terms can protect you from unexpected costs if the deal doesn’t close. The recent changes in real estate practices provide homebuyers with unprecedented control over their buying process. However, with this control comes the responsibility to be informed and strategic in your approach. By understanding your options, negotiating wisely, and knowing when to seek professional help, you can take full advantage of the new rules and ensure that your home-buying journey is both successful and cost-effective. Remember, the key is to remain proactive, ask questions, and never feel pressured into agreements that don’t serve your best interests. With these new regulations, the power is truly in your hands. The landscape of buying a home has changed, giving buyers more flexibility and control than ever before. Whether you choose to work with multiple agents, negotiate directly with sellers, or simply want professional help for specific tasks, understanding these new rules will empower you to make the best decisions for your situation. Stay informed, negotiate wisely, and make the new real estate rules work for you. *Example Scenario: Navigating the New Buyer Agent Agreement Imagine you're a homebuyer named Sarah, who has been searching for her dream home for a few months. You’ve signed up for alerts on platforms like Zillow , Redfin , and a local agent’s website, which notify you whenever a home that matches your criteria hits the market. Step 1: Receiving an Alert One morning, you receive a notification from Redfin about a new listing in your desired neighborhood. The home fits your budget and has all the features you’ve been looking for, so you’re eager to see it in person. Step 2: Deciding How to View the Home Under the new rules, you have a few options: Contact the Listing Agent Directly : You can reach out to the listing agent who represents the seller. The listing agent can arrange a tour and even assist you with writing up a purchase offer if you decide to proceed. In this scenario, the listing agent would handle both sides of the transaction, which might save you on buyer’s agent commission, but be aware that the listing agent's primary loyalty is to the seller. Work with a Buyer’s Agent : If you prefer to have your own representation, you can contact a buyer’s agent. You would need to sign a non-exclusive agreement with the buyer’s agent specifically for this home. This agreement should clearly outline how the agent will be compensated, whether it's a percentage of the sale, a flat fee, or another structure you negotiate. Step 3: Touring the Home You decide to contact the listing agent directly for a quick and convenient tour. The agent schedules the showing, and after seeing the property, you realize it’s perfect for you. Step 4: Making an Offer With the listing agent’s help, you prepare to make an offer. Since you haven’t signed an agreement with a buyer’s agent, the listing agent offers to draft the contract and guide you through the process. This might streamline the process but remember, the listing agent is still representing the seller’s interests. Step 5: Considering Buyer Agent Representation Before submitting your offer, you consider whether you want to bring in a buyer’s agent. You reach out to a local buyer’s agent and explain the situation. They offer to review the contract and provide negotiation advice for a flat fee or a reduced commission since you’ve already found the home and are only seeking assistance with the final stages. You decide to sign a non-exclusive agreement with the buyer’s agent specifically for this property. Step 6: Negotiating the Commission You negotiate with the buyer’s agent and agree on a 2% commission, which you will cover if the sale goes through. This agreement also includes a clause that releases you from any payment obligations if the deal falls through. Step 7: Closing the Deal With your buyer’s agent’s help, you submit a well-structured offer to the seller. The negotiations go smoothly, and the seller accepts your offer. The commission you negotiated with your buyer’s agent is paid at closing, and you successfully purchase your dream home. Key Takeaways from This Scenario: Flexibility : You have the flexibility to decide how you want to approach each home, whether through the listing agent or your buyer’s agent. Control Over Costs : You can negotiate commissions and only pay for the services you need. Informed Decisions : The new rules empower you to make informed decisions about how you want to be represented, giving you control over the home-buying process. This scenario illustrates how the new buyer agent agreement rules can be leveraged by homebuyers to maintain control over their purchase process, ensuring that their needs and interests are prioritized throughout the transaction.

( Watch Video ) The real estate industry has long been criticized for a lack of transparency, questionable practices, and a general disregard for the needs of buyers and sellers. While there are undoubtedly exceptional agents who provide outstanding service, many homeowners and buyers have encountered subpar experiences. The 3% Commission Conundrum At the heart of many issues lies the standard 6% commission split between buyer and seller agents. This fee structure has become entrenched, with many agents viewing it as an entitlement rather than a fee earned through exceptional service.  This often leads to: Lack of Motivation:  Agents may prioritize speed over quality, focusing on closing deals rather than advocating for clients' best interests. Price Gouging:  In some cases, agents may inflate property values to justify higher commissions. Limited Negotiation:  A reliance on the standard commission can hinder agents' willingness to negotiate on behalf of clients. *The NAR Settlement:  In response to antitrust lawsuits, the National Association of Realtors (NAR) agreed to changes that will impact how real estate commissions are displayed and negotiated. Starting in August 2024, MLS listings will no longer include the commission offered to buyer agents. This change is intended to increase competition among agents and potentially lead to lower costs for consumers. * While the exact impact of these changes remains to be seen, it is expected to: Increase transparency:  By removing the standard commission display, buyers and sellers will have a clearer understanding of the negotiable nature of real estate commissions. Promote competition:  Agents will need to differentiate themselves based on service quality rather than relying on standard commission rates. Empower consumers:  Buyers and sellers will have more control over the negotiation process, potentially leading to cost savings. *Buyer Agency Agreements The Agent's Role: Beyond Showings and Paperwork While many agents can schedule showings and complete paperwork, providing exceptional service requires a deeper level of expertise and commitment.  Common shortcomings include: Lack of Market Knowledge:  Many agents have limited understanding of local market trends, pricing strategies, and neighborhood dynamics. Poor Communication:  Failure to return calls or emails promptly, or providing unclear or misleading information can frustrate clients. Pressure Tactics:  Some agents resort to high-pressure sales tactics to push clients into making quick decisions. Limited Negotiation Skills:  Inability to effectively negotiate on behalf of clients, resulting in suboptimal deals. 🌟 Reddit Posts from Disgruntled Home Buyers and Sellers! 🏠 The Impact on Buyers and Sellers These issues directly impact homeowners and buyers: Higher Costs:  Inflated commissions and subpar service can lead to increased costs for both buyers and sellers. Stressful Experiences:  Dealing with incompetent or unresponsive agents can create unnecessary stress and frustration. Difficulty Finding Your Dream Home:  Agents who prioritize quantity over quality may not be able to find the perfect property for buyers or attract the right buyers for sellers. The Illusion of Positive Reviews To make matters worse, many platforms designed to provide consumer feedback, such as Zillow and Redfin , often present a skewed and overly positive picture of real estate agents. These platforms may filter negative reviews, making it difficult for consumers to get a true sense of an agent's performance. * Does Redfin survey every customer and post every review? When Redfin and the customer agree that the customer will not receive a survey or will not have their survey response posted It's essential for buyers and sellers to conduct thorough research beyond online reviews, including asking for referrals from friends, family, and colleagues. Additionally, platforms like social media and online forums can provide more candid feedback from real people about their experiences with different agents. Taking Control: The Rise of FSBO and Buyer Representation The growing popularity of For Sale By Owner (FSBO) models and the push for increased transparency in buyer agent compensation reflect a growing dissatisfaction with traditional real estate practices. By understanding the market, educating themselves, and being proactive, homeowners can take control of the selling process and achieve better outcomes. While real estate agents play a valuable role in the home buying and selling process, it's essential to recognize that not all agents are created equal. By being informed and discerning, buyers and sellers can improve their chances of a successful and satisfying transaction. The New Era of Buyer Agency Agreements Recent changes in the real estate industry, specifically the elimination of broker compensation fields on Multiple Listing Services (MLS), are aimed at increasing transparency and competition. While the full impact of these changes is yet to be seen, they underscore the importance of clear communication and negotiation between buyers, sellers, and agents. Example Buyer Agent Agreements Buyer Representation Agreements:  These agreements will become increasingly important as they outline the terms of the relationship between the buyer and agent, including compensation. Negotiation:  Both buyers and sellers should be prepared to negotiate commission rates and other terms of the transaction. Client Focus:  Agents who prioritize client satisfaction and open communication will be best positioned to succeed in the new market. Disclaimer:  This article is based on general observations and experiences within the real estate industry. Individual experiences may vary.

Many homebuyers are grappling with a new clause often found in buyer agent agreements: a provision stating the buyer agrees to pay a specific commission or fee, but any commission received from the seller will offset this amount. A common question is: How can you ensure the seller actually pays the agent's commission as agreed? Key Changes for Homebuyers Buyer Representation Agreements:  Before engaging in property viewings, you'll likely be asked to sign a Buyer Representation Agreement (BRA). This document outlines the services your agent will provide and how they will be compensated. Compensation Options:  The BRA will specify your agent's compensation structure. This could include: A flat fee An hourly rate A commission paid by you A commission paid by the seller (if offered) A combination of these Understanding the Challenge The crux of the issue lies in guaranteeing that the seller will fulfill their obligation to pay the buyer's agent commission. While the buyer's agent agreement outlines your financial responsibility, it doesn't directly enforce the seller's commitment. Reddit Comments Potential Solutions and Considerations Leverage Contractual Obligations: Clear Offer Language:  Explicitly state in your offer that the seller is responsible for paying a specific commission amount to your buyer's agent. For instance, "Seller agrees to pay a buyer's agent commission of 2.5% of the sale price." Contractual Enforceability:  Once the purchase contract is signed by both parties, it becomes a legally binding agreement. Altering the commission terms without mutual consent constitutes a counteroffer. Negotiate Directly: Communicate with the Seller's Agent:  Be sure your buyer's agent discusses the commission structure directly with the seller's agent to clarify expectations and potential issues. Leverage Market Conditions: Market Dynamics:  A strong buyer's market can provide more negotiating power to secure favorable commission terms. Consult with Your Agent: Your buyer's agent should be familiar with local practices and can offer guidance on navigating the process. *** Scenario: Buying a Home with New Rules Imagine you're interested in buying a home in Phoenix, Arizona. You connect with a real estate agent, and they present you with a Buyer Representation Agreement. The agreement outlines a 3% commission to be paid by the seller. You find a home listed at $450,000 and make an offer. Your offer includes a clause stating the seller will pay a 3% commission to your agent. Potential Challenges: Seller's Counteroffer:  The seller might propose a lower commission rate. You can then decide to accept, counteroffer, or withdraw your offer. Market Conditions:  In a highly competitive market, sellers may have more leverage in negotiating commission terms. Agent's Role:  Your agent should advocate for your interests and negotiate on your behalf. Related Article: NAR Settlement: New Buyer Agent Agreements Required August 17th, 2024 Related Video: Addressing Common Concerns Refund for Overpaid Commission:  If your buyer agent agreement specifies a 2% commission but you negotiate a 2.5% commission from the seller, the exact handling of the additional 0.5% would depend on the terms of your agreement with your agent. Some agents might offer to refund the difference, while others may retain it as additional compensation. By understanding the potential challenges and implementing these strategies, homebuyers can increase the likelihood of securing the agreed-upon commission for their buyer's agent. Disclaimer: This article is intended for informational purposes only and does not constitute legal or financial advice. The information provided should not be relied upon as a substitute for professional counsel. The authors are not real estate agents and cannot provide specific advice on individual circumstances.

Scenario:  Alex, a first-time homebuyer, is interested in a $450,000 property in Phoenix, Arizona. Before the New Law:   Alex would have contacted a real estate agent, and the agent would have begun the home search process without a formal agreement. The expectation was that the seller would pay the agent's commission. Under the New Law: Initial Contact:  Alex contacts a real estate agent, Ben. Buyer Representation Agreement:  Before viewing any properties, Ben presents Alex with a Buyer Representation Agreement. This agreement outlines the services Ben will provide, including property search, negotiations, and contract assistance. What if your buyer agent wants a 3.0% Commission from the seller? Compensation Disclosure:  The agreement clearly specifies how Ben will be compensated. This could be: A flat fee An hourly rate A commission paid by Alex A commission paid by the seller (if offered) A combination of these options Property Search:  With the agreement signed, Ben begins the property search based on Alex's criteria. Making an Offer:  When Alex finds a property they like, Ben helps them prepare an offer. The offer might include a provision about Ben's compensation.  This could be: Standard Commission:  Ben accepts the standard commission offered by the seller's agent. Negotiated Commission:  Ben proposes a lower commission rate. Buyer Pays Commission:  Alex agrees to pay a portion or all of Ben's commission. Key Differences: Upfront Clarity:  Alex has a clear understanding of how Ben will be compensated before starting the home search. Negotiation:  There's potential for more negotiation about agent compensation, which could impact the overall transaction. Buyer Responsibility:  Alex has more responsibility for understanding the compensation structure and making informed decisions. Additional Considerations: Market Conditions:  The competitiveness of the Phoenix market will influence negotiation strategies for both buyers and agents. Agent Business Models:  Agents may adapt their business models to accommodate different compensation structures. Consumer Education:  Homebuyers need to be informed about their options and the implications of different compensation models. This scenario highlights the increased complexity and transparency introduced by the new buyer agent law. While it may require adjustments for both buyers and agents, it ultimately aims to create a more informed and equitable real estate market. ***Scenario: Buyer Agent Compensation of 3% Paid by Seller Buyer Representation Agreement Alex, the buyer, enters into a Buyer Representation Agreement with Ben, their agent. The agreement clearly states that Ben's compensation will be a 3% commission paid by the seller. This means Alex will not directly pay Ben a fee. Making an Offer Alex finds a property they love, listed at $450,000. Ben helps Alex prepare an offer. The offer will typically include the following: Offer Price:  $450,000 Earnest Money:  [Amount] Contingencies:  [Home inspection, financing, appraisal, etc.] Closing Date:  [Date] Possession:  [Date] Other Terms and Conditions:  [Any additional terms or requests] Buyer Agent Compensation:  A clear statement that the buyer is represented by Ben Agent and that the buyer agent commission will be paid by the seller as outlined in the Buyer Representation Agreement. The offer does not need to include the specific commission percentage (3%) as this is already outlined in the Buyer Representation Agreement. Key Points No Price Adjustment:  The offer price of $450,000 remains unchanged. The buyer agent's commission is a separate negotiation between the buyer's agent and the seller's agent. Clear Communication:  The buyer's agent must clearly communicate the compensation structure to the seller's agent. Seller's Decision:  Ultimately, it's the seller who decides whether to accept the offer with the proposed buyer agent commission. Possible Challenges: Negotiation:  If the seller is unwilling to pay the full 3% commission, the buyer's agent may need to negotiate a lower commission or explore other compensation options. Market Conditions:  In a highly competitive market, the seller might have more leverage in negotiating commission terms. Buyer Expectations:  The buyer should be aware that while they are not directly paying the agent, the seller's costs (and potentially the sale price) may be influenced by the commission structure. By clearly outlining the buyer agent's compensation in both the buyer representation agreement and the offer, all parties involved have a better understanding of the financial terms of the transaction. This article is intended for informational purposes only and does not constitute legal or financial advice. The information provided should not be relied upon as a substitute for professional counsel. The authors are not real estate agents and cannot provide specific advice on individual circumstances.

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Check out this recent post from a Reddit User : Very confused! "I want to buy a new house that is just outside of my price range. I have been to the Open House on several occasions and gotten to know the seller's agent as a result. During my last visit, I asked the agent if the seller was motivated. I said, "do you think they would be willing to take an offer of $X?" He said, "yes, I think they would." I told him that my agent would be in contact with him soon. (My offer is about 5% less than asking.) My agent refused to present my offer without getting a sense from the seller's agent about whether they would accept it, even though I told him that the seller's agent already said they would be open to it." "I waited about a week for my agent to get back to me only to tell me that the seller's agent said there was no point in submitting an offer. I cannot go higher because my mortgage approval specifies I'm at my limit." "I am so confused. It seems like my agent is not motivated to make the deal, but maybe that's just the way things go? Can I call the seller's agent directly to see what's up? (I just started working with my agent and I haven't signed anything.)" Most comments told "Very Confused" to Fire The Agent! Have you ever experienced this with your Real Estate Agent? What would you do? Leave a Comment on YouTube !

Big changes are coming to the real estate world! Learn how the new buyer agent law, effective August 17th, 2024, will impact homebuyers and sellers. We'll break down the key changes, explain how agent compensation will work, and provide real-life examples to help you understand. Don't miss this essential information if you're planning to buy or sell a home! See Example Buyer Agreements: Zillow Touring Agreement Arizona Forms and Updates  ( Link ) Keller Williams New Jersey Maryland and Washington, D.C Agreement Wisconsin Buyer Agreement #buyeragentlaw #realestate #realestatelaw #homebuying #homeselling #realestateagents  Related Videos The NAR Settlement Explained Understanding Its Impact on Real Estate A Realtor's View The New Zillow Touring Agreement Explained

Example Buyer Agent Agreements What are agents saying on Facebook? To illustrate how the new real estate rules might impact a typical transaction, let's create a hypothetical scenario. Meet the Players: Buyer:  Alex, a first-time homebuyer seeking a 3-bedroom condo in a bustling city. Buyer's Agent:  Ben, a seasoned agent with a strong track record in the city's condo market. Seller:  Carol, a homeowner looking to downsize to a retirement community. Listing Agent:  Danielle, a knowledgeable listing agent with a deep understanding of the local market. The Scenario: Before August 17th , Danielle (Listing Agent) would have listed Carol's (Seller) condo on the MLS, including the standard 3% commission offered to buyer agents. Ben (Buyers Agent), representing Alex (Condo Buyer), would have seen this information and factored it into his negotiation strategy. Post-August 17th , Danielle's listing will no longer display the commission offered to buyer agents. Ben (Buyers Agent), to effectively represent Alex(Condo Buyer), will need to have a signed buyer representation agreement in place. This agreement outlines the services Ben (Buyers Agent) will provide, including compensation terms. When Ben (Buyers Agent) submits an offer on Carol's (Seller) condo, he might include a provision about his commission. This could look like: Option 1: Standard Commission:  Ben accepts the standard 3% commission offered by Danielle. The term "standard commission" in this context refers to the typical commission rate  offered to buyer agents in a particular market. It's a general benchmark rather than a specific offer from Danielle . ( Clarify Standard Commission Rate ) Option 2: Negotiated Commission:  Ben proposes a lower commission rate, perhaps 2.5% or even 2%, in exchange for Alex's business. Option 3: Buyer Pays Commission:  In some cases, the buyer (Alex) might agree to pay a portion or all of the buyer's agent (Ben) commission directly. This is less common but could be negotiated. Danielle, as the seller's agent, will now have less information about the buyer agent's compensation. She might: Accept the Offer as Is:  If the offer is competitive, Danielle (Listing Agent) /Carol (Seller) might accept it without negotiating the commission. Counteroffer with Commission Adjustment:  If the buyer's agent (Ben) proposes a lower commission, Danielle (Listing Agent) Carol (Seller) could counteroffer with a higher purchase price or other concessions. Seek Clarification:  Danielle representing the Seller (Carol) might inquire about the buyer agent's commission structure to better understand the overall offer package. Key Takeaways: Transparency is Key:  Both buyers and sellers should have open conversations with their agents about compensation expectations. Negotiation Becomes More Complex:  The removal of commission information from MLS listings adds a layer of complexity to the negotiation process. Strong Agent Relationships Matter:  Agents who build strong relationships with clients and other agents are likely to have an advantage in this new environment. This scenario highlights the potential changes in the real estate landscape post-August 17th. While the exact dynamics will vary depending on local market conditions, understanding these potential scenarios can help buyers, sellers, and agents prepare for the future. Example Buyer Agent Agreements Zillow Touring Agreement See on Zillow ( Link ) Arizona Forms and Updates ( Link ) Keller Williams New Jersey New Jersey Buyer Agreement Maryland and Washington, D.C Agreement Oregon Buyer Agreement South Carolina Agreement Wisconsin Buyer Agreement What Are Agents Saying on Facebook About The Upcoming Changes? ***Clarifying the Standard Commission Scenario*** Clarify Option 1. Let's break down the potential misunderstandings and offer a clearer explanation. Understanding the Standard Commission: The term "standard commission" in this context refers to the typical commission rate  offered to buyer agents in a particular market. It's a general benchmark rather than a specific offer from Danielle. How Does Ben Know the Standard Commission? Ben, as an experienced agent, would have a general understanding of the standard commission rates in his market. This knowledge is gained through industry experience, networking with other agents, and market research. Is Ben Asking for a Split of Danielle's Commission? No, Ben is not asking for a split of Danielle's commission. He's simply indicating his willingness to accept the standard commission rate that is typically offered to buyer agents in that market. The Negotiation Process: If Ben believes that the standard commission rate is too low, he might propose a negotiated commission  with Danielle. This could involve requesting a higher commission rate or offering additional services in exchange for the standard commission. Key Points to Remember: The standard commission rate is a market-driven figure, not a fixed amount set by any regulatory body. Negotiation of commission rates is still possible and encouraged, even in the new post-August 17th environment. Transparency and clear communication between agents are essential for a smooth transaction. By understanding these nuances, both buyers and sellers can better navigate the new real estate landscape and ensure fair compensation for all parties involved