After August 2024, sellers still control what commission they offer buyer's agents, but it can't be listed on the MLS anymore. Buyers and their agents must now sign a written agreement upfront specifying commission before house hunting begins. If the buyer's agent agreement asks for more than the seller offers, the buyer pays the difference.
Hello, this is Renee Han, your Naples real estate expert. There have been some changes in the real estate world that may affect you if you're thinking about selling your home. Let's break it down. First and foremost, as a homeowner, you still have complete control over what commission you offer to pay a buyer's agent. That has not changed. You can offer as little or as much as you want. However, there are two changes in how things work. The first change involves the advertisement vehicle for buyer's commission. The offer of buyer's agent commission can no longer be advertised in the MLS system or any downstream or connected system for that matter. This will require other means to convey this information to prospective buyers and their agents. The second change involves how buyer's agent commission is determined and who pays for it. Buyers and their agents now have to agree upfront in writing on a commission rate and services through that signed agreement before they start looking for a home. Separately, any seller will determine what commission they're willing to pay for the sale of their individual home. If you as a seller decide to offer a buyer agent commission as part of an accepted sales agreement, this will be documented as part of the contractual paperwork. Many sellers, by the way, are still choosing to offer buyer's agent commission to attract more buyers and encourage agents to show their property. Any amount agreed to be paid upfront in that buyer and buyer agent agreement that is not covered by what an individual seller is willing to pay will be owed by the buyer. So while there are some new room rules, the bottom line is you still are in control of your property and can decide what's best for you. Don't worry though, you're not on your own. As a listing agent, I will serve as a resource to guide you through these decisions and the processes tied them. I look forward to working with you.
North Naples vs. South Naples: Which Area of Naples, Florida Is Right for You?
North Naples vs. South Naples: Which Area of Naples, Florida Is Right for You?
