About Bryn Kaufman

Principal Broker and Creator of OahuRE.com

Commission Removed from MLS

Aloha OahuRE.com Client,

As you probably know through the news, the National Association of Realtors has reached a settlement where buyer’s agent commissions will now be negotiated for all offers.

As of August 12, 2024, our MLS will remove any offer to the buyer’s agents to pay a commission, and going forward, there will be no reference to a guaranteed commission as there has been in the past.

Client Care will be sending out a form to sign stating this, as the Hawaii Association of Realtors wants to make sure all sellers are aware of this.

When you receive an offer, you might receive a request for a specific commission, and you can now negotiate it just like every other term on your offer.

I know some of our sellers have already chosen to negotiate commission, but now all listings from all sellers nationwide will negotiate commission.

Please keep in mind that along with this change, buyers will not be able to see a home with a realtor without signing a representation agreement that promises to pay that realtor a certain amount. The amount can be a fixed fee or a percentage of the contract price.

The buyer’s agent is not allowed to collect anything over this fixed amount from anyone. This is important, as this will prevent Realtors from saying they will show a home for $10 or some other low amount because if they put that on the contract, that is all they can collect, no matter what.

This means if you decide not to pay the buyer’s agent a commission, the buyer must still pay their agent the amount they agreed to. 

This could be an issue as a buyer might be more likely to cancel escrow if they promised to pay 2% to their agent and the seller is not covering it.

I also expect a lot more buyers to want to see properties without an agent, which offers an opportunity for sellers to sell to a buyer without using an agent, and thereby not have to pay any buyer’s agent commission.

The reason for this is buyers are used to working with a buyer’s agent at no charge, but now, before they can work with a Realtor, they have to sign an agreement, and that agreement might stipulate they will pay the agent 2% or more at closing.

Putting myself in a buyer’s shoes, I would not want to sign an agreement like that right off the bat; I would prefer to see the house at an Open House or set an appointment directly to see it without any promises having to be made to pay a Realtor.

This could work to the buyer’s advantage too, because if a buyer comes to a seller with no Realtor, thereby no buyer’s agent commission has to be paid, and this is attractive for the seller, so it increases the opportunity for the buyer to have their offer accepted.

No one knows precisely how all this will play out. It is just speculation at this point. 

My recommendation is not to state verbally or via email how much commission you might be willing to pay. I think the best course of action is to get an offer, review the offer price, the commission requested, and all other details, then decide what to do and if you want to counter the offer price, the commission, or both.

Please let us know if you have any questions.

Thanks 

Flat Fee Buyer’s Representation Coming Soon

The landmark settlement from the Naitional Association of Realtors means many buyers will not be using an agent to see homes. They will see them on their own.

After all, buyers know when they see a home they like. It is a very personal decision, you don’t need an agent to tell you what you like or don’t like.

However, you might not be comfortable having the same agent that is representing the seller’s best interest representing you.

In this case we will offer a flat fee for buyers who want their own representation to negotiate the offer, and manage the escrow process to make sure they understand all their contingencies and are treated fairly.

There also might be an option to visit the property with your agent to hear what they think the property is worth and see if they point out any things you might have missed.

I am not sure on the price yet, but I can tell you our $3,500 Flat Fee Selling option is very popular, so sellers love the flat fee arrangement and buyers probably will too.

Advantages of Living in Waipio Acres Hawaii?

Waipio Acres is a census-designated place (CDP) in Honolulu County, Hawaii, United States. As of the 2020 census, the CDP had a population of 5,556.

Here are some of the advantages of living in Waipio Acres, Hawaii:

  • Low cost of living. The cost of living in Waipio Acres is relatively low compared to other parts of Hawaii. The median home price is $700,000, and the median rent is $1,500 per month.
  • Beautiful weather. Waipio Acres enjoys a warm, tropical climate with average temperatures ranging from 75 to 85 degrees Fahrenheit. The area receives an average of 45 inches of rain per year, mostly during the winter months.
  • Close proximity to Honolulu. Waipio Acres is located just 12 miles from Honolulu, the state capital and largest city. This makes it easy to commute to work or school, and there are plenty of amenities and attractions within easy reach.
  • Excellent schools. The Waipio Acres School District is home to several highly-rated public schools, including Mililani High School, which is consistently ranked among the best high schools in Hawaii.
  • Safe and family-friendly community. Waipio Acres is a safe and family-friendly community with a strong sense of community. There are plenty of parks and playgrounds for kids, and the area is home to a variety of community events and activities.

Overall, Waipio Acres is a great place to live if you’re looking for a beautiful, affordable, and family-friendly community in Hawaii.

Here are some additional pros and cons of living in Waipio Acres:

Pros:

  • Low cost of living
  • Beautiful weather
  • Close proximity to Honolulu
  • Excellent schools
  • Safe and family-friendly community
  • Diverse population
  • Active community

Cons:

  • Traffic can be heavy during rush hour
  • Limited job opportunities
  • Not as much nightlife as other parts of Hawaii
  • Can be hot and humid during the summer

Ultimately, whether or not Waipio Acres is the right place for you depends on your individual preferences and needs. If you’re looking for a quiet, affordable, and family-friendly community with great weather, then Waipio Acres may be a great fit for you.

Advantages of Living in Moiliili?

Moiliili is a vibrant and diverse neighborhood in Honolulu, Hawaii. It is home to a wide variety of businesses, restaurants, and cultural attractions. Some of the advantages of living in Moiliili include:

  • Convenient location: Moiliili is located in the heart of Honolulu, making it a convenient place to live for those who work or go to school in the city. It is also close to many popular attractions, such as the Iolani Palace, the Honolulu Museum of Art, and the Kapi’olani Park.
  • Abundant amenities: Moiliili has a variety of amenities, including shopping, restaurants, healthcare facilities, and cultural attractions. There are also several parks and recreation areas in the neighborhood, making it a great place to live for families.
  • Excellent public transportation: Moiliili is well-served by public transportation, making it easy to get around the city without a car. There are several bus lines that run through the neighborhood, and the H1 freeway is also nearby.
  • Safe and secure: Moiliili is a safe and secure neighborhood. The crime rate is low, and there are a number of police and fire stations in the area.
  • Diverse population: Moiliili is a diverse neighborhood, with people from all over the world calling it home. This makes it a great place to live if you are looking for a melting pot of cultures.

Here are some additional things to consider when thinking about living in Moiliili:

  • The cost of living in Moiliili is relatively high, but it is still lower than in some other parts of Honolulu.
  • The neighborhood is very walkable, so you can easily get around without a car.
  • There is a lot of traffic in the area, especially during rush hour.
  • The neighborhood is home to a number of government buildings, so there is often a lot of activity.

Overall, Moiliili is a great place to live in Honolulu. It is a safe, convenient, and diverse neighborhood with a lot to offer residents.

Here are some specific examples of the amenities and attractions that can be found in Moiliili:

  • Shopping: Moiliili is home to a variety of shops, including department stores, boutiques, and specialty stores. There are also several farmers markets in the neighborhood, where you can buy fresh produce and other local goods.
  • Restaurants: Moiliili has a wide variety of restaurants, serving everything from Hawaiian cuisine to Japanese food to Italian food. There are also several cafes and coffee shops in the neighborhood, where you can get a cup of coffee or tea and a bite to eat.
  • Cultural attractions: Moiliili is home to a number of cultural attractions, including the Iolani Palace, the Honolulu Museum of Art, and the Kapi’olani Park. There are also several theaters in the neighborhood, where you can see plays, concerts, and other performances.
  • Parks and recreation: Moiliili has several parks and recreation areas, including the Kapi’olani Park, the Moiliili District Park, and the King Kalakaua Park. These parks offer a variety of activities, such as picnicking, swimming, and playing sports.

If you are looking for a vibrant and diverse neighborhood with a lot to offer, Moiliili is a great place to live in Honolulu.

Advantages of Living in Punchbowl Honolulu, Hawaii?

Punchbowl is a great neighborhood to live in Honolulu, Hawaii. It is centrally located, close to the freeway, shopping, restaurants, hospitals, and the financial center of Honolulu. Some of the advantages of living in Punchbowl include:

  • Convenient location: Punchbowl is located in the heart of Honolulu, making it a convenient place to live for those who work or go to school in the city. It is also close to many popular attractions, such as the Punchbowl National Cemetery, the USS Arizona Memorial, and the Honolulu Museum of Art.
  • Abundant amenities: Punchbowl has a variety of amenities, including shopping, restaurants, and healthcare facilities. There are also several parks and recreation areas in the neighborhood, making it a great place to live for families.
  • Excellent public transportation: Punchbowl is well-served by public transportation, making it easy to get around the city without a car. There are several bus lines that run through the neighborhood, and the H1 freeway is also nearby.
  • Safe and secure: Punchbowl is a safe and secure neighborhood. The crime rate is low, and there are a number of police and fire stations in the area.
  • Diverse population: Punchbowl is a diverse neighborhood, with people from all over the world calling it home. This makes it a great place to live if you are looking for a melting pot of cultures.

Overall, Punchbowl is a great neighborhood to live in Honolulu. It is centrally located, has a variety of amenities, and is a safe and secure place to raise a family. If you are looking for a place to live in Honolulu, Punchbowl should definitely be on your list.

Here are some additional things to consider when thinking about living in Punchbowl:

  • The cost of living in Punchbowl is relatively high, but it is still lower than in some other parts of Honolulu.
  • The neighborhood is very walkable, so you can easily get around without a car.
  • There is a lot of traffic in the area, especially during rush hour.
  • The neighborhood is home to a number of government buildings, so there is often a lot of activity.

Overall, Punchbowl is a great place to live in Honolulu. It is a safe, convenient, and diverse neighborhood with a lot to offer residents.

Advantages of Living in Mililani Mauka, Mililani, HI

Sure, here are some advantages of living in Mililani Mauka, Mililani, HI:

  • Affordability: Mililani Mauka is a more affordable option than other parts of Oahu. The cost of housing, food, and transportation is lower in Mililani Mauka than in Honolulu or other popular tourist destinations.
  • Family-friendly: Mililani Mauka is a great place to raise a family. The community has excellent schools, safe streets, and plenty of parks and recreation facilities.
  • Sense of community: Mililani Mauka has a strong sense of community. Residents are friendly and welcoming, and there are many opportunities to get involved in local activities.
  • Easy access to nature: Mililani Mauka is located near a number of popular hiking, biking, and swimming spots. Residents can easily enjoy the outdoors without having to travel far.
  • Close to Honolulu: Mililani Mauka is located just a short drive from Honolulu. This makes it easy to commute to work, school, or for entertainment.

Of course, there are also some disadvantages to living in Mililani Mauka. These include:

  • Traffic congestion: Traffic can be heavy in Mililani Mauka, especially during rush hour.
  • Lack of diversity: Mililani Mauka is a relatively homogeneous community. There is a lack of diversity in terms of race, ethnicity, and socioeconomic status.
  • Limited nightlife: Mililani Mauka is a quiet community. There are not many bars or nightclubs in the area.

Overall, Mililani Mauka is a great place to live for families and people who are looking for a more affordable and relaxed lifestyle. However, it is important to be aware of the potential drawbacks before making a decision to move to Mililani Mauka.