After a couple failed attempts to sell with other agents, they enlisted us to sell as a transaction broker. But, they also saw the value in being marketed by a Realtor and having their home featured on the MLS. They had a legal background and could have sold it themselves. Such was the case for a recent client of ours: This client was very experienced in buying and selling houses over many years. But, for those home sellers whom TB may be a good fit, the cost savings can reach into the tens of thousands of dollars! It's not on the menu for everyone, for the reasons listed above and more. Here at R+K, we love to offer TB services, but we do so on a consultation basis only. We can't really wrap our heads around why anyone would agree to that situation. In many parts of the real estate world, agents won't even offer TB services, and even if they do, they don't charge the seller any less than what they charge for full agency. They're pretty much getting paid the same way, so long as the listing agent isn't offering less commission for a transaction broker. If this is indeed the case, there's really no reason to request that your agent be a transaction broker instead of a Buyer's Agent. And here's why: most often, by-and-large, the commission in a real estate transaction is paid by the seller. Transaction brokerage may not make sense for most home buyers either. We believe most home sellers will actually fall into the latter category. TB may not be the right fit for home sellers who could benefit from the professional opinion and advocacy of a local Realtor, such as first time sellers. In the case of a home seller, not everyone needs agency-level services these sellers may include home builders, very experienced home sellers, for-sale-by-owners, or a home seller who has already identified their buyer prior to going on the market. Yes and no! Transaction brokerage services can be ideal in any number of situations. The broker does not advise or favor any one party, rather facilitates the negotiation and execution of a contract between the two parties. The home seller acts in their own interest and the buyer acts in their own interest. What is transaction brokerage (TB) in the real estate world? Put simply, it's right there in the name: an agent acting as a transaction broker is not representing any one party in the transaction.
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