But here’s the twist: Starting August 17, 2024, commission details won’t be posted in the MLS (Multiple Listing Service) anymore. That means compensation has to be worked out off the record —through negotiation between agents and their clients. It’s like taking the conversation from the group chat to a private DM. Once a deal is struck, you will know exactly how your agent is getting paid and if you are expected to kick in. My job is to help you find a house where the seller is agreeing to pay the agent commission... or, it is so affordable, you don't mind paying your own agent's commission. Your agent’s commission still flows through their brokerage (no agents are walking away with bags of cash), and it gets divvied up based on their agreement with their broker. 2. Buyer Pays Agent Directly In some cases, especially with FSBOs (For Sale By Owner), a Seller with a narrow profit margin, or sometimes, new construction, you might be expected to abide by your buyer's agreement and agree to pay your agent yourself. This could be: • A flat fee • An hourly rate • A percentage of the purchase price Don’t worry—it all gets discussed and agreed upon in your buyer’s agreement and again negotiated in your purchase agreement, before any keys get jangled. The Buyer Agreement: AKA "Let’s Make It Official" Before you start house-hunting IRL, you’ll need to sign a buyer's representation agreement. This isn’t a trap—it’s a smart, proactive move that outlines: • What your agent will do for you (spoiler: a lot) • How they’ll be compensated (see above)
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