Transforming Real Estate: Embracing Modernity and Clarity
Transforming Real Estate: Embracing Modernity and Clarity
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In the realm of real estate, the conventional approach to listing and selling properties has long been accepted as the norm. Traditionally, selling your home meant engaging a real estate brokerage under a listing agreement. This contract stipulated a fixed duration and commission percentage for the listing brokerage. Success was defined by a cooperating brokerage presenting a buyer whose offer leads to the finalization of the sale, at which point the listing brokerage compensated the cooperating brokerage according to the pre-agreed percentage.
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However, the landscape of real estate transactions is evolving.
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The Evolution of Real Estate Listings and Sales
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The industry is currently witnessing a paradigm shift towards greater transparency and adaptability. In August 2024, a significant change was implemented across all Multiple Listing Services (MLSs). This update mandates that no cooperating compensation will be displayed for brokerages that secure a buying client. Instead, the buyer's brokerage will detail their compensation through a direct agreement with their client, indicating the payment method at the transaction's conclusion.
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This new method offers flexibility in how the buyer compensates their brokerage, whether it's a direct payment at closing or an arrangement where the costs are covered through non-recurring closing costs or credits.
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Empowering Sellers with Knowledge and Choices
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As a seller, understanding your options is crucial. Your listing agreement with us outlines the compensation for our services, either as a set percentage or a minimum fee. It's important to note that offering compensation to the buyer's brokerage is at your discretion and not a prerequisite. Our commitment is to represent your interests with integrity and dedication, without the obligation to extend compensation beyond our agreement unless you choose to do so.
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Our Commitment to You at
Theresa Grant and Associates Real Estate Partners
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At Theresa Grant and Associates Real Estate Partners, we pride ourselves on our transparent and client-focused approach. Our service fee is established at 3% of the sales price of a single family residential home with a minimum contract price of $300,000, with a minimum listing term of 120 days. For properties of a lesser amount there is a flat fee. This structure gives you the flexibility to decide on the compensation for the buyer’s brokerage. Whether you opt for a 3% fee with no direct offer to the buyer or prefer a higher rate, like 7%, resulting in a 4% closing concession to the buyer, the choice is entirely yours.
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Choosing not to offer additional incentives may lead to negotiations involving closing costs or credits, whereas offering an incentive could potentially streamline these discussions. Our priority remains to negotiate the best possible outcome for you, ensuring your interests are always at the forefront.
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Additionally, we have specific service incentives for our seller clients who also use us to purchase their replacement property.
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Embrace the New Era of Real Estate with Us
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The evolution of real estate listings and sales marks a new chapter in property transactions, characterized by increased transparency and choice. As your trusted partners, Theresa Grant and Associates Real Estate Partners is dedicated to navigating these changes with you, ensuring your selling experience is both successful and aligned with the latest industry standards. Let's embark on this journey together, redefining the traditional real estate process with modern solutions tailored to your unique needs.