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Rainmaker
1,723,105
Lyn Sims
Schaumburg, IL
Schaumburg Real Estate Agent Retired

I thought this was old news or I remember discussing this on other sites. No need for buyers to see what I get paid but it is right there on the listing sheet if they want to look. Each buyer gets the MLS sheet when I show houses so it's on there. 

Could care less what Z does or any of the other sites. I don't think it's any of their business just like what the seller is going to net at closing.

 

Disclosure: A promotion of this article erroneously stated that listing brokers would be required to display compensation.They have the option of doing so, and MLSs must permit them to do so. We regret the error.

Nov 18, 2021 01:58 PM
Rainmaker
1,387,323
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Per the article: "Editor's Note: A promotion of this article erroneously stated that listing brokers would be required to display compensation.They have the option of doing so, and MLSs must permit them to do so. We regret the error."

 

It's optional and not one I'll elect to do.

Nov 18, 2021 07:02 PM
Ambassador
3,056,526
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I do not have an opinion on this.  

Nov 18, 2021 03:38 PM
Rainmaker
556,758
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Not as concerned about this as the new requirement that IDX feeds must also have the contact information of the listing agent as well as the brokerage.

Nov 18, 2021 02:23 PM
Ambassador
5,409,570
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

They make lots of rules, some follow them and some do not, personally I dont care.

Nov 18, 2021 07:08 PM
Rainmaker
2,641,802
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I check buyer commission percentages just to see what it takes to move product when cooperating with others...what's the big deal? NAR? LOL

Nov 18, 2021 04:33 PM
Rainmaker
1,218,807
Gary Frimann, CRS, GRI, SRES
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker

I believe the rule was passed to get rid of the deceptive advertising practice of "Our Brokerage will sell your home for only "X%" or "$XX.XX" and then the consumer finds out that it is only what they pay the listing agent-- not the total commissions to be paid out, including the buyer's agent.  That is very deceptive advertising in my opinion.  I've actually have had to deal with it twice before.

Nov 18, 2021 04:10 PM
Rainer
379,780
David M. Dwares
Title Professionals Corp. - Fort Lauderdale, FL
Title guy with a broker license

As Lyn Sims stated, she provides copies of the listing for the properties she shows her buyers, so the compensation information is there.  It is also going to shown on the closing statement so it's not like the Buyer will never see it.  

I suppose seeing the offer of compensation earlier may be used by some Buyers to try to negotiate for a Broker credit.

Of course, the offer of compensation is to the Brokerage and not the agent and I doubt many agents discuss their company split arrangement with buyers (or sellers).

Nov 18, 2021 03:04 PM
Rainmaker
376,839
Raymond Henson, eXp Realty
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

It really does not make much difference to me.  Sometimes, I do a lot more work on a listing than others and my clients know that work affects the commission.  Many times, the work starts before the contract.  Recent clients wanted to up my commission a full 1% from what I asked for when they signed the papers.  Of course, I said no.  If my clients feel like they are getting a good value, that really is all I care about.  A disclosed commission really does not tell the whole story.

Nov 19, 2021 06:01 AM
Rainmaker
611,146
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

Personally, I don't care if my clients see my commission.

Maybe this will make some listing agents give a "fairer" split.

Eve

Nov 19, 2021 04:08 AM
Rainmaker
4,210,549
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

And you think NAR membership is for your benefit?

Nov 19, 2021 04:31 AM
Rainmaker
910,971
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

I also provide a listing copy to my clients, but not the "Agent" version that show commission. 

 

NAR is still under the gun from the Fed. Gov. in regard to our age-old system to the listing agent agreeing with the seller on a commission and then sharing that commission with a buyer's agent. The pressure is on to change to a system where the buyer compensates the agent.

 

If my client wants to know what my commission will be on a transaction, I will be happy to tell them. If they want part of that commission, the answer is going to be NO.

 

By the way, for us, at least, the buyer's closing papers do not show commission unless they are paying their agent. The seller usually pays the entire commission so the seller's closing statement shows a breakdown of payments to listing agent and buyer's agent.

Nov 18, 2021 07:34 PM
Rainmaker
1,633,585
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

I clicked the link and right at the top they said this:

 

 
NAR President Charlie Oppler at Board of Directors meeting

© National Association of REALTORS®

NAR President Charlie Oppler presides over the Board of Directors meeting Monday during the REALTORS® Conference & Expo in San Diego.

NAR Board of Directors Approves Sweeping MLS Changes

Share

November 16, 2021

Editor's Note: A promotion of this article erroneously stated that listing brokers would be required to display compensation.They have the option of doing so, and MLSs must permit them to do so. We regret the error.

Nov 18, 2021 06:08 PM
Ambassador
2,605,976
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Meh...it is a choice.

Nov 19, 2021 10:17 AM
Rainmaker
743,412
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

Compensation is in our listing agreement and buyer agency agreement. Buyers and sellers know what they're paying. On one hand it will be positive because if the seller/listing doesn't cover what the buyer has agreed to, the buyer will see what the difference is that they need to make up. On a negative side, there is always someone trying to take advantage of or benefit from an agents commission. People truly don't realize much of the information available, public and private, is there because of the research and collaboration of Real Estate agents.

Nov 19, 2021 07:48 AM
Rainmaker
645,458
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Santa Clarita & Aliso Viejo

Everyone wants a Realtor to be working for the benefit of our client and not for the money.  It seem counter productive to advertise that we are in it for the money.

Nov 19, 2021 04:26 PM
Ambassador
4,258,081
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Once again, are we REALLY paying NAR to represent US or someone else?!!

Nov 19, 2021 12:37 PM
Rainmaker
1,519,141
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

The buyer agent compensation was never a secret for public, however the listing agent is usually does not disclosure that information publicly. 

Nov 19, 2021 05:03 PM
Rainmaker
821,972
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

This might be important when buyers start noticing that the only properties they are seeing from their agent are ones where his split is larger.

Nov 19, 2021 01:46 PM