The Home Avenue Buyer Advantage

Home Buying 101 - What the industry changes mean for you

In the past, seller brokers shared their fees with buyers’ brokers. This practice added unnecessary complexity to the way brokers were paid and stripped buyers of the ability to negotiate fees with their own brokers. As a result, buyer brokers’ fees rose to anticompetitive and fixed rates throughout the United States. The new rules empower buyers to negotiate these fees and lower the total cost of brokerage fees for all consumers. Today, Realtors are required by law to sign a written agreement with a buyer prior to showing a home. The agent must be clear and transparent so that the buyer understands what services they will receive as well as the cost of representation.  

     

    Do’s and Don’ts of Home Buying

     

    • Negotiate the fee you will pay your buyer broker

      Home Avenue Agents DO:
      Unlike most agents who require the buyer to pay 3% of sale price or more, Home Avenue agents charge MUCH LESS for the same or better service. Home Avenue fees are negotiable. Your agent should be focused on getting you the best deal and not getting the most money for themselves. 

      Our Service Includes:
      - Real time new listings sent to your email
      -Quick response to showing requests
      - Property pricing analysis
      - Expert negotiation
      - Drafting of all Purchase Agreement documents
      - Recommend qualified inspectors and contractors
      - Review the inspection report with you and advise
      - Work with the closer and lender to ensure a smooth and successful closing.

      How You Benefit:
      You pay less for representation compared to other agents. If seller pays your buyer agent fee you pay nothing!

    • Request that the seller pay your buyer agent fee

      Home Avenue Agents DO:
      When making an offer, ask the seller for a credit to cover your buyer representation fee.  This will reduce the amount that you negotiated with your buyer agent representative.  

      Our Service Includes:
      - Real time new listings sent to your email
      -Quick response to showing requests
      - Property pricing analysis
      - Expert negotiation
      - Drafting of all Purchase Agreement documents
      - Recommend qualified inspectors and contractors
      - Review the inspection report with you and advise
      - Work with the closer and lender to ensure a smooth and successful closing.

      How You Benefit:
      If the seller pays some or all of the buyer agent fee you pay less.

    • Work with agents who “skip homes.”

      Home Avenue Agents DON'T:
      Some agents/brokerages include a clause in their agreements that asks if you want to skip homes that don’t offer upfront compensation. This is simply a way for them to unfairly discriminate against sellers who don’t engage in price-fixing buyer brokerage fees. There is no reason to skip homes, because any offer you write will likely include a request for a seller credit to pay for your buyer representation fees. Many sellers may not offer compensation upfront, but that doesn’t mean you can’t negotiate it into the Purchase Agreement.

      Our Service Includes:
      - Real time new listings sent to your email
      -Quick response to showing requests
      - Property pricing analysis
      - Expert negotiation
      - Drafting of all Purchase Agreement documents
      - Recommend qualified inspectors and contractors
      - Review the inspection report with you and advise
      - Work with the closer and lender to ensure a smooth and successful closing.

      How You Benefit:
      If a buyer agent skips homes just because the seller does not advertise a fee, you could miss out on many great options. Home Avenue agents will show you any home on the market - we never "skip" homes.

    FAQ's - NEGOTIATING WRITTEN BUYER REPRESENTATION AGREEMENTS

    When will I be able to negotiate?

    Written buyer agreements are required for many real estate professionals before you tour a home with them, either in-person or a live virtual tour. These agreements help ensure both you and your agent are clear about roles, responsibilities, and agent compensation. If you are simply visiting an open house on your own or asking a real estate professional about their services, you do not need to sign a written buyer agreement. 

    What can I negotiate?

    Agreements with your agent are negotiable, including terms about the services your agent will provide, how much your agent will be paid, how long your agreement will last, and more. You and your agent will work together to reach an acceptable agreement that allows you to get the value and services you need in the homebuying process, while also enabling your agent to pursue fair compensation for their work. Remember: compensation is fully negotiable and not set by law. You should consult an attorney if you have any questions or concerns regarding an agreement.

    How is my agent compensated?

    Agent compensation can take many forms, such as a flat fee, a percentage of the purchase price, or an hourly fee. Agents cannot agree to an open-ended amount or range of compensation such as “the agent’s compensation will be whatever amount the seller is offering” or “between X and Y percent.” You can also ask the seller to offer compensation to your agent, which can be sought in the purchase agreement.

    What types of services can my agent provide?

    Agents may offer many types of services such as f inding and showing you homes that meet your criteria, accompanying you to showings, sharing their analysis of available properties, negotiating on your behalf, and more. 

    How do I start the conversation?

    You may want to talk to a few agents to find the best match to help you on your homebuying journey. Start by asking questions about the options available to you. If you are working with a REALTOR, they are bound by a Code of Ethics to have open and transparent conversations with you about your options.

    What if we can’t agree?

    You don’t have to sign an agreement that you don’t agree with, and you or the agent can walk away from a negotiation at any time. Keep looking for the right fit—another agent may be able to better meet your needs.

    Can we change the terms of the agreement after we make it?

    Yes. You and your agent can mutually agree to change the terms of your agreement. But your agreement and/or state law may govern when it can be changed or terminated. Read your agreement closely and speak with your agent if you would like to change or exit your agreement.

    Have Questions?

    Contact Us

    Schedule a Meeting