Sold By You has become an evolutionary way to conduct real estate not only for sellers, but also for buyers. Buyers now have the ability to browse live listings on the Multiple Listing Service and set the criteria specific to their needs, save homes, and ultimately contact the seller for questions and to schedule showings. SBY has designed this process to place the power into the buyers hands of how to proceed with their real estate purchase. They can absolutely utilize a real estate agent, however there have been important adjustments with the National Association of Realtors. It is no longer expected for sellers to offer buyers agent commissions. And while many sellers may, they do not always offer the full amount buyers agents may be expecting.
When a buyer hires a real estate agent, they are expected to sign an employment agreement that bounds the buyer to that broker as long as a year or more timeframe and can require the buyer to pay their agents commissions in the event the seller does not provide some or all of the commissions. For example, if a buyer finds a house that the seller only offers compensation to the buyers agent of 1%, the buyer will have to pay the remaining 2% commissions at close in addition to their down payment, deposits and closing costs. If you’re looking at an average $500,000 house, that’s $10,000 in additional costs, and keep in mind, that’s if the seller was already paying some of the commissions.
Sold By You does not end with a buyers search, we are designed to provide guidance from the moment you schedule your first showing, all the way to the closing table when you receive the keys to your beautiful new home. Sold By You provides a GPS like guidance through your entire escrow process, resource information for each stage of the escrow process, and can provide contact information for any 3rd parties you need such as title companies, lenders, home inspectors, warranty companies and so many more. The title company conducts the official signing and recording for your home, lenders provide the financing, home inspectors inspect, Sold By You provides the resources and guidance to put all these pieces together ultimately bringing buyer and seller together to accomplish your real estate dreams at absolutely no cost to you as a buyer. Always remember you can utilize any 3rd party you choose for your real estate goals, Sold By You simply provides contacts for those that you need, yet don’t already have someone in mind. We are so excited about the major step forward in the industry and can’t wait to assist you in your real estate dreams.