01 Dec Commissions in Global MLS
Making offers of cooperating compensation is generally desired in the Global MLS. The amount of the cooperating compensation is and always has been negotiable. Zero is an acceptable amount in GMLS. The Global MLS directors chose to allow this to highlight the flexibility and clarity of Global MLS members’ negotiations with clients. Use a representation agreement before your customer becomes a client to ensure you are compensated for your work.
Using buyer representation agreements can provide an opportunity to converse with a consumer. Discuss your value, the services you provide, and how you will work in their best interest. You will also need to stress the negotiability of your compensation in every single transaction.
When working with a seller client, educate them on their choices regarding the buyer agent compensation. It may be paid directly through an offer of compensation from the listing agent, seller, buyer, or even a combination of these sources. Ensure the seller knows how it works in their favor if an offer of compensation to the buyer’s agent is their choice. It can make home purchases more affordable and widen the pool of potential buyers for the property.
Compensation is, and always has been, negotiable, and there is no standard or set amount for agent compensation. Continue using your listing and buyer agreements to help clients understand exactly what services and value you provide and how much you charge.