Real Estate and Home Selling Questions (FAQ) - ByOwner.com

The Yard Sign will come to you blank, you can put your own number on the sign. Many of our Sellers use 2 inch vinyl numbers from an office supply store.

We will send your yard sign via USPS Priority Mail the next business day after receiving your order. It is included in your listing purchase.

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Your home is in MLS typically within 24 hours of you completing the MLS paperwork.

Your home will show up in Zillow and Trulia typically within 24-48 hours of you completing the MLS paperwork.

You can make changes to your listing or cancel it at any time.

Yes you can. You can start your ad today and come back to finish it at any time. So if you're not ready for your home to go live yet, or haven't finished taking your photos, ...no problem. Just save it and finish it later.

The short answer is no, but it is highly recommended to offer a fee to a Buyer’s Agent. See FAQ 10 Have questions? Click here or call us at 800-296-9637.

While it is not mandatory, there are several compelling reasons why offering a commission to a buyer's agent remains a smart strategy for sellers:

1. Attracting More Buyers: Offering a commission to buyer's agents can increase the visibility of your property. Agents are more likely to show homes to their clients that offer competitive commissions, as it’s a key factor in their livelihood. By offering a commission, you’re incentivizing agents to bring qualified buyers to your property, potentially speeding up the sale process.
2. Standing Out in the Market: In a competitive real estate market, where buyers have many options, offering a commission to buyer's agents can make your property stand out. It signals to agents that you’re serious about selling and willing to invest in the process, which can give your home an edge over others that do not offer such incentives.
3. Maximizing Your Sale Price: A well-compensated buyer's agent is motivated to negotiate the best deal on behalf of their clients while ensuring the transaction goes smoothly. This can help maximize the final sale price and reduce the likelihood of complications during the closing process. An agent with a clear financial incentive is likely to work harder to finalize the deal.
4. Building Goodwill and Cooperation: Real estate transactions are complex and often involve multiple parties. Offering a commission fosters goodwill and cooperation between the buyer’s and seller’s agents, which can lead to a smoother and faster sale. It also reduces the risk of disputes or misunderstandings that could delay the transaction.
5. Meeting Buyer Expectations: Many buyers expect their agents to be compensated by the seller, as this has been the industry norm for years. Offering a commission aligns with these expectations, making your property more attractive to potential buyers who prefer this traditional arrangement.

Note: Commissions are not mandated by law and can be freely negotiated between the Seller and the Broker in listing agreements. It is the Sellers responsibility to notify the Selling Office (Buyers Agent), of their offer of compensation. No offers of commission will be allowed in the MLS.

Summary: While the new ruling allows for more flexibility and negotiation in how commissions are handled, offering a buyer's agent a commission can still be a strategic move that benefits sellers. It can enhance the marketability of your property, attract more potential buyers, and help you achieve a successful sale at the best possible price.

The recent ruling on real estate commissions introduces significant changes to how buyer's agents are compensated. Traditionally, the seller's agent would offer a portion of their commission to the buyer's agent. However, under the new rules, the process is more transparent, allowing for greater negotiation and clarity.

Here’s what you need to know:

1. Transparency in Commission Disclosure: Sellers and their agents must now clearly disclose the commission being offered to the buyer's agent. This information must be made available to potential buyers early in the home-buying process, typically through MLS listings or other marketing materials.
2. Negotiability of Commissions: The ruling emphasizes that commissions are negotiable. Buyers can now have open discussions with their agents about the commission rates and structure. This could lead to different commission agreements depending on the services provided by the buyer's agent.
3. Direct Payment Options: In some cases, buyers may have the option to pay their agent directly, rather than having the seller cover the buyer's agent's commission. This approach can lead to more personalized service agreements and potentially lower overall costs.
4. Impact on Buyer Representation: The new ruling encourages transparency and competition, potentially benefiting buyers by giving them more control over the services they receive and how they compensate their agents. It’s important for buyers to understand the terms of any commission agreement with their agent to ensure it aligns with their expectations and financial plans.

Note: Commissions are not mandated by law and can be freely negotiated between the Seller and the Broker in listing agreements. It is the Sellers responsibility to notify the Selling Office (Buyers Agent), of their offer of compensation. No offers of commission will be allowed in the MLS.

There are a few ways to communicate the commission you're offering to a buyer's agent:

1. Specify in the Listing Agreement: When you sign a listing agreement with your real estate agent, the commission rate offered to the buyer's agent will be specified in the contract.
2. Direct Communication: If you are not listing your property on the MLS or are working in a private sale scenario, you can directly inform buyer's agents of the commission you're offering. This can be done through email, during negotiations, or when an agent reaches out with interest in your property.
3. Marketing Materials: You can also include commission details in any marketing materials or property brochures you distribute. While this is less common, it can be useful in certain situations, especially in off-market or private sales.
4. During Appointment Coordination: When a buyer's agent contacts you to schedule an appointment to view your home, this is another opportunity to confirm or remind them of the commission being offered. The amount should match the stated amount in your listing agreement. Clear communication at this stage ensures that the agent is fully informed before bringing their client to your property.

By clearly communicating the commission you're offering, you increase the likelihood of buyer's agents bringing interested and qualified buyers to your property.

Note: Commissions are not mandated by law and can be freely negotiated between the Seller and the Broker in listing agreements. It is the Sellers responsibility to notify the Selling Office (Buyers Agent), of their offer of compensation. No offers of commission will be allowed in the MLS.

If you decide to offer a commission to a Buyer's Agent who brings you an acceptable offer, the commission amount will be deducted from your proceeds at closing. This payment is typically handled by the title company or closing attorney, so you won't need to pay the agent directly. We suggest offering 1-3% of the selling price as a commission to the Buyer's Agent. However, you still have the option to sell your home on your own without incurring any additional brokerage or Buyer’s Agent fees.

Your phone number is on ByOwner.com, and many of the other sites we syndicate your home to, it also is in MLS for co-operating brokers to see, but not in MLS public comments. The MLS systems usually require the agent’s phone number to be in MLS. The agent will refer all Buyer and cooperating agents directly to you.