The internet changed the way that buyers search for properties that are for sale. As a result, many buyers don’t want to hire an agent until they are absolutely sure that they are buying and that they have a clear idea of where they want to buy. Yet the selling commission side of real estate for agent’s compensation has not reduced. That’s why DUFFY has a Commission Sharing Club for Buyers who are self-searching for homes. This Club allows DUFFY to work with more people knowing that officially there is a partnership of shared work towards finding and legally closing the transaction for a buyer who wants to buy a property in Metro Atlanta.
In 1996, the National Association of Realtors decided to launch a member only site for Realtors. A portal that feed all listings in the U.S. Shortly thereafter they launched a full public website that showed the public what was for sale. Albeit they only posted 4 photos and there was no address, the public could still see more about the properties than they could with the MLS phone book style listings.
Progressing to 2020, now buyers see 50+ photos, the property address, subdivision, large amounts of description, many filter options to rule out properties, how long the listing has been on the market, price changes and Zestimates from Zillow. The cat is out of the bag for agents to tell the public what is and isn’t available and most of the public now understands that the portals like Zillow and Realtor.com are direct feeds from the MLS(s). It is real and live data.
Even if an agent told their buyer client not to look for homes online, the buyer would deny that request and search anyway. Most buyers have saved searches that tell them when something new hits the market, is coming to the market, has a price reduction and when something has sold.
So with being said, it makes sense for agents to share the selling agent commission that has not changed since 1996 with the buyer since the buyer IS doing the work. The only shift in how this is paid by DUFFY to a buyer is that buyers need to drive by the home to make sure that it is indeed a house that that want to explore further by seeing the inside.
For more details about the commission share exact numbers, please visit our full explanation at www.duffyrealtyofatlanta.com/share-our-commission