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Posted
14 hours ago, GW Hayduke said:

Any advice on finding a decent realtor for someone looking to purchase a residence in north Austin?  Feel free to PM me suggestions. Would be appreciated.

if you haven't been paying attention, be advised that your realtor will ask you to sign a representation agreement.  It's a new thing, and it's legit. 

Posted

Sellers used to pay the commission for the buyer's agents.  Since a big lawsuit last year, that's no longer the case.  Now the buyer's are responsible for paying their own agent's commission.  Sellers may or may not pay all or part of it.  Before August, I could look at a house on the MLS, say 123 Main St, Anytown USA, and there was a line on the MLS that told what commission was being offered by the seller.   So, I knew what I would be paid if I repped a buyer on that particular house.  Now, it's up to me and my buyer to determine what commission he's willing to pay, and I am willing to accept. 

From a practical standpoint, the seller now receives an offer, and another form (the name varies per state) which says if the buyer is asking the seller to pay the buyer agent's commission. 

So, with my clients, I simply show them a "net sheet".  Buyer A is offering X and asking for you to pay for title, escrow, and commission and you will net Y after all of that. 

The seller can choose the offer that puts the most cash in their pocket at the end of the day. 

 

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Posted
10 hours ago, tbone_ said:

What is the purpose of this agreement? What does it accomplish?

Satisfy that lawsuit from last year. Haven't noticed much of a difference yet just a little more explaining similar to below and another page to sign. 

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