New rules for residential real estate are now in effect, and I’ve been answering a lot of questions from home buyers and home sellers. I hope to ease any concerns by explaining more about the real estate rule changes resulting from a 2023 legal decision. Based on the new rules, buyers now have to sign a buyers’ agreement before viewing a home with a real estate agent. The buyers’ agreement specifies how much a home buyer will pay the agent in commission. Here’s the good news for the home buyers I represent. I will not charge buyers any commission. Each of my sellers (and sellers represented by many of my experienced peers) will still pay 2% commission to the buyer’s agent.
Sellers Set Payment for Buyer’s Agent
Based on the new ruling, the seller decides whether to pay a buyer’s agent or how much to pay in commissions. Typically, sellers understand they will receive higher prices and more offers on their house by paying a buyer’s agent to represent them on the buy side. Sellers can choose not to pay the 2% commission to a buyer’s agent, but this might hurt their negotiating power.
Paying 4% Commission Instead of 6%
Another change with the new rules: Real estate clients can negotiate their real estate commission, instead of accepting the traditional 6%. Here’s the good news for the home sellers I represent. Commission always has been negotiable. In recent years, real estate companies and agents routinely charged 6%. They paid 2% to the buyer’s agent and kept 4%. Unlike them, I never asked for a 6%. I put my buyers and sellers first, and I demonstrate this by charging 4%. I pay 2% to the buyer’s agent and keep 2%. Express Realty clients save more of their hard-earned equity by paying a low commission for real estate.
An Agent Who Knows the Industry
Buying or selling a home is one of the largest financial transactions of life. So, working with a low commission real estate agent can save thousands of dollars. When choosing a real estate agent, it’s so important to work with an experienced agent who understands the new law. You need an agent who knows the best strategies to obtain the most money for your home sale. On the flip side, you need an agent who can find your perfect home, while not making you pay even more money out-of-pocket.
Contact Express Realty, Green Bay
The new real estate laws can be confusing, so please contact me with any questions. Let me know how I can help you achieve your residential real estate goals. I am a Green Bay real estate broker/owner providing responsive, professional, and honest services.
A Trusted Partner for Life-Changing Real Estate Decisions
Buying or selling a house is a huge, life-changing, financial decision. So, it pays to work with an experienced broker like me who can walk you through all of the details. Whether you’re a senior ready to sell or a first-time home buyer ready to purchase, Express Realty is the Green Bay, Wisconsin, company to entrust your future. Contact Express Realty today for a free Comparative Market Analysis.
About Express Realty: Express Realty is a Green Bay, Wisconsin, real estate company offering lower commission rates without compromising quality. Broker/owner Terri Balistriere fell in love with real estate when she and her husband flipped homes 20 year ago. Since that time, she has helped hundreds of Northeast Wisconsin residents fulfill their real estate goals. Whether you’re looking to buy, sell, or invest in real estate, Terri Balistriere is ready to help. Contact Express Realty, your Northeast Wisconsin real estate professional serving Brown County, Oconto County, Outagamie County, Sheboygan County, and Manitowoc County. Express Realty’s professional real estate services cover De Pere, Green Bay, Bellevue, Hobart, Allouez, Suamico, Pulaski, Little Suamico, Chase, Freedom, Wrightstown, Wrightstown, Little Chute, Kaukauna, Appleton, Oshkosh, and Sheboygan.