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Updated about 1 month ago, 11/21/2024

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Bruce Woodruff
Pro Member
#5 All Forums Contributor
  • Contractor/Investor/Consultant
  • West Valley Phoenix
13,388
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11,571
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New to me - How to handle Buyer's agent now?

Bruce Woodruff
Pro Member
#5 All Forums Contributor
  • Contractor/Investor/Consultant
  • West Valley Phoenix
Posted

So I'm listing a house (PersRes) and the listing site I use has a new disclaimer/warning on many of it's pages. This relates to that MLS ruling from earlier this year. The last house I sold was last year before the ruling.

You are not allowed to mention compemsation of a Buyer Agent anywhere in the listing (according to the warnings) and to do so owill result in fines imposed by the MLS. Here is an excerpt:

Important: Compensation offers have been removed from the MLS. Any mention or indication of a commission (or similar) will be an MLS rule violation and subject to a fine of $1,500+ (paid by you). Any concession offer can ONLY be in the concession fields and cannot include an offer to pay agents.

So my question is this: How is this handled by you Pro Agents who list properties? Because typically when I put a house up for sale, I will get a call from an agent that has (allegedly) a buyer, and they ask "are you willing to pay me 3% (or 2.5%)" and i usually work out something that works for both parties.

But I wonder...is the buyer now responsible for paying their agent? That would be nice, but I suspect that I will somehow be involved in it...?

Thoughts?

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