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The New Real Estate

By
Real Estate Broker/Owner with Gwen Fowler Real Estate, Inc 10307
  • MLS Commission Changes: Have you heard about the new changes coming to how commissions work in real estate? The MLS is updating its policies; we have until July 15th to get up to speed.

  • New Rules Explained: So, here's the deal: instead of sellers paying commissions to buyers' agents, buyers themselves will agree to pay a set commission when they sign with their agent.

  • Options for Buyers: Buyers now have a few options for paying this commission. They can either pay it out of their pocket, negotiate with the seller for a concession, or, if they're not on board, move on to another property.

  • Benefits for Sellers: You might wonder why sellers want to pay the commission. Well, it's all about attracting more potential buyers to the property. The more exposure, the better chance of selling!

  • Importance of Exposure: How do Zillow and other real estate websites showcase properties? It's all about getting as many eyes on the listing as possible. More visitors mean more potential buyers.

  • Form 120 Details: Let's talk paperwork. There's this thing called Form 120. It's a simple agreement between agents that a commission will be paid, agreed upon before showing the property.

  • Buyer-Initiated Conversations: Now, here's the exciting part. The buyer needs to start the conversation about commission amounts with their agent. It's all about open communication.

  • Adjusting to Changes: Yeah, it's a bit of a detour from how things used to be, but we're all in this together. The industry must adjust its business models to adapt to these changes.

  • Opportunity for Questions: If you have any questions or need clarification, now's the time to ask. It's essential to understand what you're getting for your money.

  • Embracing the New Way: Today marks a new chapter in real estate. We're moving forward, navigating these changes, and still serving our clients to the best of our ability. Exciting, right?

Posted by

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Gwen Fowler

Gwen Fowler Real Estate, Inc
317 South Highway 11
West Union SC 29696
Serving Oconee County, from the banks of the Chattooga River to the shores of Jocassee, Hartwell & Keowee Lakes, and all the private lakes in between.

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Contact me about property in Oconee County, Seneca, Walhalla, Westminster, Long Creek, Salem, Mountain Rest, Richland, Sunset and Six Mile, SC.  2nd homes are our expertise. 

The best number to reach me at is 1-864-710-4518--either by call or text.

View our listings at www.CoolMountainEscapes.com

 

 

 

Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Good Morning Gwen and great information to share with us here in the Rain on this Monday.  Make it a great week.  Can I re blog this sometime?

Apr 22, 2024 09:03 AM
Gwen Fowler SC Lakes & Mountains 864-710-4518

Yes you can reblog, a first for me.  Thanks!!

Apr 22, 2024 10:05 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Gwen Fowler SC Lakes & Mountains 864-710-4518  I had no idea you are still on the platform, have not connected with you in ages... hope all is well and yes changes are coming and those who are mediocre in this business will leave...Endre

Apr 22, 2024 10:41 PM
Gwen Fowler SC Lakes & Mountains 864-710-4518

Just took time off for a while.  Back now for awhile.

Apr 23, 2024 06:22 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

There are always changes in real estate and we have to be willing to adapt in order to serve our clients best.

Apr 23, 2024 06:14 AM
Michael Elliott
Fathom Realty - Burlington Township, NJ
Burlington, New Jersey Residential Sales

Sellers are no longer offering buyer broker fees?   I must have missed this memo.  

Apr 25, 2024 11:14 AM