that you might not accept otherwise. • Your agent may inhibit all access to your listing through buyers with agents. To avoid surprises or anything going wrong in general when going with dual agency, always ensure you properly represent and clarify your full relationship with your agent. You can do this by using an exclusive buyer agreement, or a listing agreement. Even with dual agency, one can’t have too many surprises once everything is outlined. There simply can’t be any surprises.
HOW REAL ESTATE AGENTS ARE PAID
The compensation structure for real estate agents can vary, especially with recent regulatory changes that offer more flexibility and transparency. Agents are required to disclose their compensation arrangements clearly in the buyer agreement. This ensures that you, as a buyer, understand exactly how your agent will be compensated and can make informed decisions.
Possible Compensation Structures
Recent regulations now allow for more varied compensation structures. Buyers will need to be proactive in understanding the costs associated with their agent's services, and may need to factor these costs into their overall budget for purchasing a home. Here are some of the ways a buyer’s agent can be compensated: New Rules in the US marketplace. 1. Split Commission Model: Starting August 17, 2024, commission information will no longer be communicated via the MLS (Multiple Listing Service)in the USA only. Compensation agreements based on commission must now occur off-MLS through negotiation and consultation between real estate professionals. These agreements may still follow the traditional
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