A major shift in the real estate industry has resulted from a class-action lawsuit against realtors. Previously, sellers were required to offer a buyer’s commission when listing a property in the Multiple Listing Service (MLS). This requirement often increased transaction costs for sellers. However, the recent settlement has changed that dynamic. Sellers now have the flexibility to decide how much commission, if any, they want to offer a buyer’s broker.
How Sellers Can Save on Transaction Costs
With the new settlement in place, sellers can now negotiate commission structures that best suit their financial situation and market conditions. For example:
- If the property is in a competitive market with low inventory, a seller may choose not to offer any buyer’s broker commission.
- Alternatively, a seller might opt for a flat fee, such as $5,000 or $10,000, rather than the traditional 3%.
- Some sellers may still offer a percentage-based commission but at a lower rate, such as 1%, to remain competitive while keeping costs down.
This new level of flexibility can result in significant savings for home sellers who no longer need to adhere to the previously mandated commission structure.
How Silberman Realty Helps Sellers Navigate This Change
At Silberman Realty, we specialize in flat-fee listings, allowing our clients to take full advantage of this new commission structure. Our sellers benefit from MLS listings and widespread syndication across major real estate websites while maintaining complete control over the buyer’s broker commission.
By leveraging these changes, sellers can maximize their profits while still ensuring their property gets the exposure it needs to attract potential buyers.