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CRMLS removes seller concession fields from platform

Housing Wire

California Regional MLS (CRMLS) has decided to remove fields listing seller concessions from its platform. Additionally, CAR’s updated RLA form does not include any references to seller concessions. One such change outlined in the settlement is the banning of offers of buyer broker compensation from the MLS.

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Home seller concessions reach pre-pandemic levels

Housing Wire

Buyers are asking sellers for things that were unheard of during the past few years,” said Van Welborn, a Phoenix-based Redfin real estate agent, in a prepared statement. The options include reducing mortgage rates by 2% during the first year of the loan and by 1% in the second year, or by 1% during the first year.

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‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

These housing professionals have been gaming out the potential impact on buyers’ agents – a significant source of referrals. Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down.

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GSEs will not count buyer agent commissions as IPCs

Housing Wire

Fannie Mae and Freddie Mac will not count buyer’s agent commissions as part of their allowable interested party contributions (IPCs), according to announcements from the government-sponsored enterprises (GSEs) on Monday. The Community Home Lenders Association (CHLA) expressed support for the GSEs’ announcement.

Agents 532
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‘Don’t panic:’ KW executives address agent questions on NAR commission settlement

Housing Wire

During a virtual open house hosted by Keller Williams to answer agent and broker questions about the settlements in the commission lawsuits , the overwhelming message was for real estate professionals to focus on what they can control. Seller concessions is money that is being given by the seller directly to the buyer,” Papasan said.

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America’s top listing agents don’t want to deal with the buyer’s agent commission mess

Housing Wire

Ralph Harvey , Jason Saphire and Ben Caballero are three of the most prolific agents in America. But these listing-only agents are still having to adjust their practices to conform with the National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement that goes into effect on Saturday.

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Opinion: Navigating buyer agent compensation

Housing Wire

While the settlement does not address this issue directly, the Department of Justice (DOJ) Statement in the Nosalek lawsuit does: Buyers would have the ability to request in their purchase offer that the sellers pay a specified amount to the buyer broker from the proceeds of the home sale. In a seller’s market, that may well occur.