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Navigating Seller Misconceptions: The Truth About Buyer Agent Commissions
Manage episode 421362671 series 3237066
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In this episode of the Hyperfast Show, Dan Lesniak addresses a common concern among real estate agents regarding the recent NAR settlement and its impact on seller-paid buyer agent commissions. Dan explains that sellers have never been required to pay these commissions, but it has been a common practice for over 30 years as a way to incentivize buyer agents and drive traffic to listings. He emphasizes the importance of educating sellers on the benefits of offering a buyer agent commission, citing data that shows increased traffic and better results for sellers who do so. Dan also discusses how the evolving market conditions and legal changes will bring more transparency and proof of the effectiveness of this practice. He encourages agents to confidently explain these points to their clients and adapt to the upcoming changes in the industry.
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Join Dan as he discusses:
- **Clarifying Seller Misconceptions:** Dan Lesniak addresses common misconceptions among sellers regarding the necessity of paying buyer agent commissions, explaining the historical context and the current legal landscape.
- **Benefits of Offering Buyer Agent Commissions:** Dan discusses how offering a buyer agent commission can drive more traffic to a listing and result in better outcomes for sellers, using data and examples to support his points.
- **Adapting to Market and Legal Changes:** Dan highlights the importance of adapting to the evolving real estate market and legal changes, emphasizing the need for agents to educate their clients and embrace new practices to stay competitive.
Notable Quote
"Getting rid of compensating the buyer's agents from the seller side has not been proven to get sellers a higher net at the end of the day; it's going to reduce traffic. You have to look at the buyer's agent fee as a marketing tool."
- Dan Lesniak
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