04/16/2024
“Buyer agent fees have historically been fees customarily paid by the property seller or property seller’s real estate agent, and, as such, they are currently excluded from these financing concession limits,”
I personally believe and have seen it already, where Properties have dropped $30-$40k Because Sellers not willing to pay Buyer Agent Commission, It is not official in California, but you already have some acting this way! And as a Listing Agent, or Seller, a
E & O Insurance deductible is over 10k and a Retainer for a Real Estate Attorney with Out E & O Insurance is upwards of 20k! So why would you want to represent both parties, for a lower commission??
Not offering Buyer Agent Commission, you are excluding a Large Part of the Buyers, upwards of 92% of Sales Are Sold Through a Buyers Agent!
Good News,
The GSEs will not count buyer agent commissions as IPCs
Fannie Mae and Freddie Mac issued guidance on Monday, echoing sentiments already shared by FHA Commissioner Julia Gordon!
GSEs clarify that they will not count buyer’s agent commissions as part of the allowable interested party contributions.
