NAR Settlement Implications (August 2024):
- Buyer Representation Agreement: Buyers are now expected to pay their agent’s commission. The Buyer Representation Agreement specifies the agreed commission, ideally under an exclusive representation clause.
- Revised Forms: Residential Listing Agreement and California Residential Purchase Agreement forms, especially for probate.
- Negotiating Commission: When drafting offers, consider negotiating for the seller to pay the buyer’s agent commission using the new form. However, this requires explicit agreement from the seller
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Negotiating a real estate deal goes far beyond just commission; it encompasses a spectrum of elements, most of which are negotiable. With a keen eye on every piece of documentation, I ensure that every term is deliberated and optimized. It’s not just about preventing financial losses— it’s about leveraging every opportunity for your gain.
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