🤔 Thinking of buying or selling in the Charleston SC & surrounding areas? Let us help you! 🏡 📲 Call or Text: 843-887-1357 📩 Email: sarah.newman@exprealty.com 📅 Free Real Estate Consultation (Zoom Call): bit.ly/ZoomWithMeHere
I was former agent/broker. We did not have buyer/agent agreements.I find that buyer/agent agreement not too favorable. What if you see a house and get an agent you sign a partnership with and you end up not agreeing on many things. What do you do?
Hello! First, it's about picking a great agent. Buyers will be more picky moving forward now that they have to sign agency up front. So, interviewing agents, reading reviews, etc. is going to become more important, and really having clear expectations and education upfront. Think of it just like on the listing agent side. Those sellers sign exclusive agency with that agent for an agreed amount of time. Now, it's the same on the buyer's side. A buyer could maybe sign for a shorter period of time, or just for a few specific properties. There are also ways that you can cancel agency agreements. The intention is to have a formalized relationship and have a professional working on your behalf. I really think agents who aren't serious professionals will be exiting the industry this year. Thank you for watching and commenting!
Thank you for the information. My wife and I are extremely interested in moving into a 55+ community and have intended to use a buyers agent such as yourself. We enjoy your videos I see that sellers in the Summerville area do pay a buyers agent commission. I also see that builders such as Lennar are paying buyers agents less (Summers Corner Horizons). Am I correct in thinking that we, as buyers would have to make up the difference in buyers agents commissions in cash if a builder like Lennar lowers their percentage ? What does a buyers agent “typically” charge for their services ? Are there builders in Summerville that pay the whole buyers agent commissions ? Lennar, whose prices in Summers Corner may seem reasonable, in the end may cost more to the buyer due to the fact that the buyer will end up paying a lot to their buyers agent representation. Am I correct ?
Hi Christopher! Thanks so much for watching and for your well thought-out comments. Yes, you are mostly correct. Things can/may change, but as of today, most builders are still paying a buyer's agent compensation. Some, like the one you mentioned, have dramatically reduced what they're paying buyer's agents, while others haven't and don't plan to. It really just depends on the builder. We do bring a lot of business through their doors and help with their marketing efforts, so many builders see our value in bringing them well-qualified buyers. If you sign an exclusive buyers agreement with an agent, then yes, you are committing to paying that agent whatever amount you agree to. If the builder covers all of it, you would owe nothing more. If they don't, then you would owe the difference. (I really can't speak to what is "typical" - there are multiple models out there - percentages, flat fee, a la carte, etc. and saying that there is a typical commission would be an anti-trust violation.) At this time, Lennar's prices are so much lower that even if you paid for your own agent, it would still likely cost less than many other options out there - but again, that all comes back to what you agree to pay your agent. I'm happy to talk more with you directly about all of this when you're ready! Thank you!
🤔 Thinking of buying or selling in the Charleston SC & surrounding areas? Let us help you! 🏡
📲 Call or Text: 843-887-1357
📩 Email: sarah.newman@exprealty.com
📅 Free Real Estate Consultation (Zoom Call): bit.ly/ZoomWithMeHere
I was former agent/broker. We did not have buyer/agent agreements.I find that buyer/agent agreement not too favorable. What if you see a house and get an agent you sign a partnership with and you end up not agreeing on many things. What do you do?
Hello! First, it's about picking a great agent. Buyers will be more picky moving forward now that they have to sign agency up front. So, interviewing agents, reading reviews, etc. is going to become more important, and really having clear expectations and education upfront. Think of it just like on the listing agent side. Those sellers sign exclusive agency with that agent for an agreed amount of time. Now, it's the same on the buyer's side. A buyer could maybe sign for a shorter period of time, or just for a few specific properties. There are also ways that you can cancel agency agreements. The intention is to have a formalized relationship and have a professional working on your behalf. I really think agents who aren't serious professionals will be exiting the industry this year. Thank you for watching and commenting!
Thank you for the information.
My wife and I are extremely interested in moving into a 55+ community and have intended to use a buyers agent such as yourself.
We enjoy your videos
I see that sellers in the Summerville area do pay a buyers agent commission. I also see
that builders such as
Lennar are paying
buyers agents less (Summers Corner Horizons).
Am I correct in thinking that we, as buyers would have to make up the difference in buyers agents commissions in cash if a builder like Lennar lowers their percentage ?
What does a buyers agent “typically” charge for their services ?
Are there builders in Summerville that pay the whole buyers agent commissions ?
Lennar, whose prices in Summers Corner may seem reasonable, in the end may cost more to the buyer due to the fact that the buyer will end up paying a lot to their buyers agent representation. Am I correct ?
Hi Christopher! Thanks so much for watching and for your well thought-out comments. Yes, you are mostly correct. Things can/may change, but as of today, most builders are still paying a buyer's agent compensation. Some, like the one you mentioned, have dramatically reduced what they're paying buyer's agents, while others haven't and don't plan to. It really just depends on the builder. We do bring a lot of business through their doors and help with their marketing efforts, so many builders see our value in bringing them well-qualified buyers.
If you sign an exclusive buyers agreement with an agent, then yes, you are committing to paying that agent whatever amount you agree to. If the builder covers all of it, you would owe nothing more. If they don't, then you would owe the difference. (I really can't speak to what is "typical" - there are multiple models out there - percentages, flat fee, a la carte, etc. and saying that there is a typical commission would be an anti-trust violation.)
At this time, Lennar's prices are so much lower that even if you paid for your own agent, it would still likely cost less than many other options out there - but again, that all comes back to what you agree to pay your agent. I'm happy to talk more with you directly about all of this when you're ready! Thank you!
Im planning on moving from NY to summerville this year. How is the home rental market?
The rental market is also quite pricey and competitive in some areas! Really just depends on what you're looking for.