Native Realty Residential Sales Director Whitney Dutton shared insights on the expected impact of the new rules governing real estate commissions in a piece published by The Real Deal. Reporter Katherine Kallergis spoke with Dutton about the conversations agents are having with South Florida buyers and sellers to help educate them on the changes.
“Native Realty broker Whitney Dutton said the changes create transparency, showing that the buyer was actually always paying a commission because it was already built into the price.
The sellers of Dutton’s 26 listings are all offering buyer’s compensation, Dutton said. But the total commission offered may come down a bit.
“We’ve definitely seen a little flex toward 5 percent” versus the industry standard of 6 percent, Dutton said.
Still, explaining to buyers why they need to sign an agreement with their agent regarding compensation is “a much more difficult conversation to have,” Dutton of Native Realty said. “We’re probably going to see a lot of agents who won’t understand how to explain their value.”