From NAR
Here are eight points from NAR Legal Affairs about how to have transparent conversations about compensation.
On the Buyer Side:
- Emphasize your value proposition.
- Highlight the benefits of a written agreement.
- Explain the compensation in terms of a written agreement and the fact that compensation is negotiable.
- Emphasize that you will inform the buyer before showing a property whether there is an offer of cooperative compensation and whether that offer covers the agreed-upon compensation.
- Educate the consumer that offers of cooperative compensation help make professional representation more accessible and increase fair housing opportunities.
On the Listing Side:
- Advise the consumer of the benefits of cooperation.
- Explain the compensation terms of a written agreement and the fact that compensation is negotiable.
- Inform the consumer about limitations on the ability to finance buyer broker compensation.
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