08/02/2024
Sellers: With the new changes do I have to pay a buyer’s broker now?
Great question, the answer is NO — as matter of fact, the answer has always been no. You could’ve listed yourself or you could’ve offered out no compensation. You see when you don’t offer out a commission to the other side, you put yourself at a competitive disadvantage because you eliminate the buyer pool with the number of buyers who can afford your home. Because they’re already in a situation where they’re paying moving costs, closing costs and down payment, when you add this other fee on top of it many of them can’t afford it. This means you eliminate your demand, which means you eliminate exposure, which means you eliminate the price that you want to get.
So yeah, you have the option not to pay but it’s not necessarily in your best interest.
BUT! Here’s the good news.. you also benefited from the system most likely when you bought the house you’re looking to sell now and you will also benefit from it again when you go to buy another house because of how the system works. You may not love that system but it is the reason why the industry is where it is right now and it’s as strong as it is right now. It’s why you’re getting the prices that you want because of the way the system works and so the question is, do you have to? The answer very simply is no you don’t have to, but it’s probably in your best interest. 🙂
Bryce Henderson
Keller Williams Viplv
Custom Fit Real Estate Group
S.186262
