Home sellers’ guide to understanding how buyer’s agents will be paid.

If you’re considering selling your home, you must be wondering how the National Association of Realtors lawsuit will affect you. Today, I will answer the same that every home seller in the country wants to know—do sellers still need to pay the buyer’s agent?

Firstly, buyer’s agent commissions are not going away. However, the way these commissions are handled is changing. Buyers now need to understand how their buyer's agent is compensated, rather than assuming that the seller will cover the cost.

Second, many sellers want to know if they still need to offer a buyer's agent commission. Based on current trends, I predict that changes will occur after August when one of the commission fields is eliminated. Although specifics are still unclear, it's likely that at least one commission requirement will be removed.

“Offering zero commissions will limit your buyer pool and lead you to offer higher commission fees just to get your home off the market.””

Third, this may sound confusing, but even though sellers don’t need to offer to pay the buyer’s commission, doing so may lead you to pay higher commission fees during negotiations. Listings that offer to cover the buyer’s commission are more likely to attract showings, especially from first-time buyers who lack funds to cover the entire cost. As a result, not offering to pay the buyer’s commission will limit your buyer pool, and you may end up offering higher commissions just to get your home off the market.

When selling your home, you have to make strategic decisions to attract the most buyers. To guide you to make informed decisions, hiring the help of a real estate professional like myself will benefit you greatly in your home-selling journey. Just email me at kelly@kellycohomes.com and I will reach out to you as soon as possible. I’m excited to help you create the perfect strategy to sell your home. I look forward to hearing from you!