We are going through a bit of a revolution right now in the housing industry, in order to make it easier for buyers to purchase houses. I work with FSBO real estate, you know, DIY home selling.
Of course, the matter was always technically negotiable, but traditionally, most people who sold their house by listing it with an agent, would agree to pay a certain amount of commission to the selling|listing broker, and that money would be split with a buyer’s agent, if there was one involved. Somebody sued that the buyer was, therefore, paying the commission, which, in turn, affected what they were paying for the house.
So now, the seller can chip in some of his money towards repairs, interest rate buy-downs, and/or maybe some commission. In return, buyers must sign an agreement with the agent that they will only work with them, and will pay them, too.
A buyer put it to me like this yesterday. if i went to the grocery to buy a steak, i would need to structure a working and exclusive agreement to help me with my steak, and if i decided to go to another market, they would have to go with me there too.
The buyer I was talking to said that he knew, in the end, he would probably pay more for dinner in the name of costing him less.
That’s just the way things work.
Thanks for reading! I am Don Martin. I’ve been a real-estate broker 40 years.. Check out my new microbook about selling your house FSBO without spending ALL your time. Join my reader family for my FSBO news and rumors.
Also, this post may contain sales or affiliate links, so I might get a little money if you purchase anything. Thank you in advance!
Photo by Blake Wheeler on Unsplash
Leave a Reply
Your email is safe with us.