Blog > Homebuyers Paying Real Estate Commissions?
In a time when media headlines can often be misleading, it's crucial to clarify the situation for those with questions or curiosity. If you're considering buying or selling property this year, it's essential to stay informed.
In a recent video, the focus was on bringing clarity to the evolving landscape, particularly regarding the National Association Settlement. Today's spotlight, however, is on homebuyers, with no intent to incite fear or FOMO.
Here's the crux: in the coming months, homebuyers might find themselves responsible for paying commissions to their buyer representation. While many sellers will likely still offer compensation to brokers, it's not guaranteed that buyers will have their representation covered. This shift could pose challenges, especially for those concerned about cash to close. Buyers may need to come up with additional funds to pay for broker representation, alongside closing costs and down payments.
The message is clear: if you're a prospective homebuyer worried about cash flow, it's time to take action. Reach out soon to start strategizing and ensure a smooth path forward. While negotiating with sellers and listing brokers offers some flexibility, there's a looming reality that buyers may need to cover commissions directly, a departure from past practices.
If you're unsure or have questions, don't hesitate to reach out. Understanding the changing dynamics of the market is key to making informed decisions.
Matt Farnham -Lic # B.1000941
Fiv Realty Co.
702-530-7289
team@teamfarnham.com
