We are NOT participating in Broker to Broker compensation, BUT we welcome it from home sellers…
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- čas přidán 8. 09. 2024
- At Lamacchia Realty, we're updating our approach to compensation in real estate transactions.
Click here for show notes and the transcript: crushitinre.co...
Going forward, we will not participate in broker-to-broker compensation models. Instead, we will request compensation directly from sellers.
Transparency is crucial. We are committed to clear communication about these compensation changes and will ensure our agents are transparent with both buyers and sellers to act in their best interests.
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#crushitinrealestate #compensation #NARSettlement
Thanks for your time and passion. Thanks for taking my random call 4 years ago ❤
Great training today! Will be looking for this on crush it. Watch this over and over folks!💪💯
Indeed, it's important to clarify that real estate transactions are fundamentally agreements between buyers and sellers. While brokers play a crucial facilitating role, they are not parties to the sale itself. The legal and financial obligations of the transaction are solely between the purchasing and selling entities.
Seems like you're on the right track. What about, as a buyer agent, *refusing to accept compensation directly from the seller*, and instead counsel the buyer on how to get it as a concession from the seller so that buyer then can pay you as their agent?
Here in MN the law specifically allows for this but it’ll be interesting to see how the market adapts. Our new state provided forms have options for either paid by seller, paid by broker, paid by buyer or none, all either pre-negotiated or as part of the offer process.
May I ask why you would reject a broker cooperative compensation if it’s being offered ?
Brokers in my market have taken your stance and it is not going well for them. Buyer Brokers are not playing that game, they’re just letting their buyer know they may be on the hook for the whole fee and the buyer says no thanks, don’t wanna see that listing.
what do you mean by “the whole fee”?
@@wendysmith-Florida The whole buyer broker fee.
you must not have watched the whole video. I VERY CLEARLY explained that it will come from our SELLERS when they want to offer which we suspect and hope is most of them time for their own good. So instead of us sharing it out or accepted it from another brokerage our sellers will offer it out and we will accept it from sellers when we represent buyers. but we wont accept from listing agents
@@anthonylamacchia9189 you’re saying sometimes your seller won’t offer it. In those instances I’m saying they’ll get less showings and less offers.
In other words, buyers brokers are being untruthful to their clients in saying or implying Sellers who do not disclose (or their Listing Firms who do not co-broke) are not offering compensation to cover Buyer Agent’s (Firm’s) compensation when this is not or may not be true?
I am completely fine with it - but I get it