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Opinion: Sitzer/Burnett decision presents an uncertain future for buyer agents

Housing Wire

Under current guidelines, sellers pay a 5-6% commission on a sale which is split between the buyer and listing agents. In order to survive, buyer agents will need to show this value to buyers and be willing to have clients pay a set fee or a pre-negotiated percentage of the sale price to secure the business.

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How to Beat a Contingent Offer on the House You Want

HomeLight

From getting pre-approved for your mortgage to offering flexible closing dates, these strategies are designed to put you in a stronger position. Get pre-approved for your mortgage loan Securing a mortgage pre-approval is perhaps the most important first step in making a compelling offer. Get Started 1.

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Take more time, ask better questions: How loan officers are getting clients in homes as rates soar

Housing Wire

Being conservative never hurts and being strategic about the market is important, Jared Sawyer, a sales manager at loanDepot , said. Especially when the seller is willing to give concessions, the buyer is able to get a credit for closing and contribute to buying down points. “I let them know their options. “If

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Creative Ways To Win A Bidding War In A Competitive Market

Easy Agent Pro

Carefully consider factors like inventory levels, average sale prices, and average days on the market before making decisions. Setting a Realistic Budget and Obtaining Pre-Approval Before engaging in bidding wars, creating a realistic budget is essential. This will prevent overextending yourself financially.

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Your Dream Home Appraised Lower than Your Offer: Now What?

HomeLight

When the appraisal comes in lower than your offer price, it’s either an opportunity for you to renegotiate the sales price with the seller — or it’s going to completely derail your home sale, and you’ll have to start over again. If they are unwilling to budge on price, you can also renegotiate seller concessions.

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16 Tips to Win a Bidding War on a House

The Close

Ensure Your Client Has Loan Pre-approval Many sellers are anxious to get to the closing table quickly, which drives many to cash buyers , even for a lower price. Also, understand the difference between a prequalifying and a pre-approval letter.

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What Happens After Making an Offer on a House?

Windemere Buying

It means the seller has accepted an offer and there’s a good chance the deal will go through, but because the sale is not yet final, the property is technically not off the table. In return, the seller agrees to take the home off the market. When the sale closes, the money goes toward the down payment or closing costs.