Real Estate Agent
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 1 month ago, 11/21/2024
- Contractor/Investor/Consultant
- West Valley Phoenix
- 13,384
- Votes |
- 11,570
- Posts
New to me - How to handle Buyer's agent now?
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?