A Big Transition in the Real Estate Industry
The Real Estate Industry has been under some scrutiny in recent years about "how" agents are paid as well as "how much" agents are compensated in the transaction--as we at Adorn Realty value transparency and education throughout the real estate process, this topic of payments needs to be a first priority in disclosure and discussion with our clients and agent to agent.
It is an important distinction to note that Real Estate commissions are, and have always been, fully negotiable! In addition there have always been discount brokers in the industry as there are discount providers in every industry. Discussions on how much we get paid and exactly what services and expertise we offer for that compensation will continue on a client by client basis.
Recent high profile law suites are bringing changes to the processes and procedures in our industry and while not as much is actually changing as the media might lead you to think, we do believe the changes are for the better! Below you will find an outline of what the NAR and DOJ decisions are requiring of us as agents going forward as well as some informative Blog posts on the topic and of course any clear compensation currently being offered on our listings .
It is an important distinction to note that Real Estate commissions are, and have always been, fully negotiable! In addition there have always been discount brokers in the industry as there are discount providers in every industry. Discussions on how much we get paid and exactly what services and expertise we offer for that compensation will continue on a client by client basis.
Recent high profile law suites are bringing changes to the processes and procedures in our industry and while not as much is actually changing as the media might lead you to think, we do believe the changes are for the better! Below you will find an outline of what the NAR and DOJ decisions are requiring of us as agents going forward as well as some informative Blog posts on the topic and of course any clear compensation currently being offered on our listings .
Blog Posts on the Changes
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Changes Now in Effect
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All buyers will need to sign a buyer agency agreement prior to entering a home during a showing. The terms of this agreement may vary in duration and compensation--as it always has. We used to sign these agreements prior to writing an offer, but now we have to step up the timeline as a matter of the rules.
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When you are interested in a home, offers of compensation from the seller for YOUR buyer's agent is no longer clearly outlined in the MLS in clear disclosure, but as your agent we at adorn REALTY will seek to inquire of individual listing agents regarding any intent of the seller to assist you in your buyer agency fees and negotiate as needed with the listing agent and their seller.
We, as adorn REALTY agents will disclose our sellers intent to compensate buyer's agents upon the sell of their listing on the pages of our unique website both on this page as well as the "Featured Listings" Page and attach any necessary documentation that might be helpful to those pages.
And we make a commitment as industry professionals to be communicative to other industry professionals in a timely manner via phone, text and email regarding our listings and any intent to offer concessions so that your buyers can make a decision on whether or not to view the property.
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