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[Seller's Edition What is the 2024 Revision to the Residential Sales Property Regulations ？ ] 🏠 🧐

As one of the changes to the regulations under the National Association of Realtors, the buyer's agent commission, which has generally been borne primarily by the seller based on custom and tradition, is now a matter of negotiation between the seller and the buyer after 8/17/2024. The following is an explanation of the options available to the seller and the background for negotiations:


🏠 🔑 Options for the buyer's agent commission:
- 50/50 < ・ Both parties pay a percentage of the commission, full amount, negotiate according to the terms of the offer, no commission, or offer a credit to the buyer to cover closing costs as a separate line item
*Options include percentage of the sale price, fixed amount, etc.

🔎 <1067> Negotiation context:
- If there is no buyer's agent commission in the sale plan, it is expected that the buyer will include in the offer terms a request for a credit that the buyer can use to cover its closing costs.
- If no commission is set, the buyer may add it to the negotiated terms in the offer, which may ultimately make the seller's cost more expensive
- If no commission is set, the seller may have to deal with more unrepresented buyers
- In the case of unrepresented buyers, the transaction may be more expensive than the final closing costs. (example from another state: 75% for buyers with agent vs. 12% for buyers without agent)
- If not set, may result in fewer offers and other general reduction in opportunities
- Notwithstanding the above, if not set, the chances of a transaction being delivered are dependent on the terms of the offer.


Various factors including the above should be considered on a case-by-case basis. Whether you are a seller or a buyer, it would be helpful to have an overall picture of the options available to both parties based on the revisions. \Please feel free to contact us for more information. Please feel free to contact me for more information. I will be happy to read and explain it in an easy-to-understand manner 😀


Notes:
* Posts on Machikado Hot List: Click on "Machikado Hot List" in the Town Guide and my page to access all posts.
-Ward area new condo development update
-Ala Moana area hot new condo project Muse
-Kaka'ako area new condo project Kali'u update
-Questions to ask when viewing a property for sale - Azure Ala Moana Edition
-Buyer Edition - Revised rules for viewing a property for sale that will go into effect in 2024. The above is in accordance with Oahu MLS membership rules.

[Contact]

• Junko Tanefusa 種房純子 | ハワイ不動産エージェント | HOMETIQUE
• 401 Kamakee St Ste 307, Honolulu, HI, 96814 アメリカ合衆国
• [TEL]+1 (808) 208-1371

[✅ Residential Properties ・ Brokerage for Purchase and Sale of Investment Properties ✅ Brokerage for Lease Agreement of Commercial Leasehold Properties] We wish we had known more at that time! ✨ In addition to market knowledge and abundant experience, we also need to consider various precautions, such as the inclusion of terms and conditions tailored to each client's individual situation and the consideration of applicable tax incentives, as well as strong negotiation skills. In addition to market knowledge and extensive experience, we also need to take into consideration various precautions, including the inclusion of terms and conditions tailored to the client's individual situation, consideration of applicable tax incentives, and strong negotiating skills. We provide comprehensive support to our clients by carefully listening to their needs and providing the best plan for their specific objectives and requirements. Our bilingual agents have extensive experience ・ in condominiums ・ houses ・ townhouses and various Hawaii properties throughout Honolulu and the greater Oahu area including Aiea/Pearlridge, Mililani, Kapolei, Ever Beach and Kaneohe. Free consultation, no questions asked ・. Free consultation, please feel free to contact us with any questions you may have.