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From The National Association of Realtors
The NEW RULES FOR REALTORS -THE BOTTOM LINE –
1) SELLERS WILL PAY THEIR LISTING BROKER.
2) BUYERS MUST HAVE A WRITTEN AGREEMENT WITH A BROKER TO BE SHOWN OR MAKE OFFERS ON HOMES.
3) BUYERS WILL HAVE A WRITTEN AGREEMENT AS TO WHAT THEY PAY THEIR BUYER’S BROKER – SOMETIMES PAYING WITH A SELLERS CONCESSION SOMETIMES FROM THEIR OWN FUNDS.
With Atomic you pay a $599 " transaction engagement fee" at the time of listing with us (this fee is non-refundable whether the transaction closes or not.) This fee is for our time of engaging the transaction. Meaning this covers our time for managing the parties, paperwork, taking photos, videos, sign placement and all the other necessary functions. And at closing you pay 1.5% for all our other marketing efforts Your total to Atomic is $599 +1.5%. We are upfront about what we do for you. No vague or ambiguous promises, just performance.
HOWEVER, while Sellers will no longer be directly offering the Buyer’s broker a commission on the MLS and the Buyer's will be paying their own Broker, the Buyer may request a Seller’s "concession" and/or the Seller may offer a "concession" to pay the Buyer's broker. We believe this will be common.
A seller’s concession MUST be asked for by the Buyer in their “offer to purchase” because both the bank and title company need to be aware any concessions and the purchase agreement is where this occurs.
Regardless, of whether the Seller offers a concession in the MLS or if they don’t the Buyer MUST ask for ALL concessions in the “offer to purchase”.
All items in an offer to purchase are negotiable, including any concessions.
lastly, the client (Buyer) may want to pay their Broker (The Buyer’s Broker) a fixed fee or a percentage of the listing price commission at closing out of the buyer’s personal funds for the Buyer Broker's services.Thus their will be no request for concessions.
Prior to listing with us, If YOU have ALREADY found your buyer, (Thus a For Sale By Owner) and that buyer is unrepresented by another Broker, but you are both uncomfortable with the sometimes complex selling process, Atomic Realty can manage all the banks, buyers, inspectors, title companies and of course all the paperwork for both you and your buyer, bringing the sale to "close."
For this we charge for the sensible commission of a $599 " transaction engagement fee" (this fee is non-refundable whether the transaction closes or not.) and 1% at closing. That's it.
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