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Stating Commission Amounts to REALTORS®
YES - YOU CAN STATE EXACTLY WHAT COMMISSION, IF ANY, YOU ARE WILLING TO PAY TO A REALTOR®!
Each MLS® listing we upload to the MLS® System includes specific commission and contact information for the REALTORS® who are viewing your listing on the MLS® System's back end, that only they can see. This information states exactly what each seller's cooperation level is "commission-wise" with the buyer agents should they want to engage the seller, and it provides the agents with an easy to find contact name and phone number for the sellers.
We use this message to clearly communicate to the REALTORS® what you are willing to pay them if they bring the buyer who completes the purchase of your property. You can also message to the REALTORS® that you are NOT willing to pay them any commission at all if you want to. You will likely run into a few angry agents in your efforts to sell the property, but the truth is that you are in complete charge of what you are willing to pay to a REALTOR®, and they can't make you pay one single penny to them... Period!
About 5% of our clients instruct us to tell the REALTORS® that they won't pay any commission to them if they bring a buyer.
Believe it or not, some sellers are now offering REALTORS® even more than what the typical buyer's agent commission would be as an extra incentive to encourage REALTORS® to bring them more buyers. The thinking being that since they are saving 1/2 of the commission listing with us, why not offer a portion of those savings to the REALTOR® who brings in the coveted buyer. Many sellers are utilizing strategies like this as a creative way to get local REALTORS® more on board with their listing.
For example, if you want to say that you are willing to pay 2.5% to any buyer's agent who brings you a buyer, you can do that - or you could say $10,000.00 flat. You can also state that you are willing to pay ZERO commission, or less commission, or even more commission as well. It's completely up to you.
Each of the listings we post on the MLS® include the following information that instructs REALTORS® to contact you directly, and lets them know what your level of cooperation is.
Each seller has three options for communicating to REALTORS® what their level of cooperation is:
Option 1:If you don't want to tell REALTORS® upfront what you are willing to pay commission-wise, the following message will be displayed in the back end of the MLS® that only the REALTORS® can see.
Brokerage Remarks: ***Mere Posting*** Despite the fact that the commission field states, "$2," THE SELLER IS WILLING TO NEGOTIATE A FEE AGREEMENT DIRECTLY WITH A CO-OPERATING BROKERAGE. Contact Seller, (name of seller), directly on seller's phone # at (xxx-xxx-xxxx).
Option 2:If you have asked us to indicate that you are willing to pay a certain dollar amount or a percentage, then we will include the following statement: (We have used 2.25% as the example below)
Brokerage Remarks: ***Mere Posting*** Despite the fact that the commission field states, "$2," THE SELLER IS WILLING TO PAY A FEE OF 2.25% DIRECTLY TO A CO-OPERATING BROKERAGE. Contact Seller, (name of seller), directly on seller's phone # at (xxx-xxx-xxxx).
Option 3:If you have asked us to indicate that you are NOT willing to pay any dollar amount or any percentage to any REALTORS®, then we will include the following statement with your listing:
Brokerage Remarks: ***Mere Posting*** Despite the fact that the commission field states, "$2," THE SELLER IS NOT WILLING TO PAY A FEE TO ANY CO-OPERATING BROKERAGE. Contact Seller, (name of seller), directly on seller's phone # at (xxx-xxx-xxxx).
We hope that this information helps to explain how the messaging to REALTORS® and buyer's agents works while using our selling system to market your property on the MLS®. Please contact us if you have any additional questions about this, or any other topic on our website.