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 … Read more
MLS stands for Multiple Listing Service. It is a database of homes for sale that is used by real estate agents. When a real estate agent lists a home for sale, they add it to the MLS database. This allows other real estate agents to see the listing and show it to their clients. The … Read more
For the first time ever we closed today on a $2,400,000 Kailua home that was offering only $1, yes ONE DOLLAR commission. The MLS does not allow a seller to negotiate the commission down, but they do allow the seller to pay Realtors more commission (isn’t that nice of them LOL), so putting in $1 … Read more
OahuRE.com is now one of the first sites on Oahu to show the buyer’s agent commission for all listings as we just got permission today to do so. Unfortunately, it is non-negotiable still, but at least buyers can see how much their agent is getting paid. The buyer’s agent commission is paid for by the … Read more
I have been trying since April of 2021 ?to get them to remove the rule that the buyer’s agent commission is NOT negotiable. In May 2021 they said they would reach out to the National Association of Realtors to investigate this, but I still have no resolution. ? I have not given up and will … Read more
I am waiting on the Board of Realtors to allow me to show the buyer’s agent commission percentage on all listings. However, they continue to ignore the National Association of Realtors guidelines which say the buyer’s agent commission should be negotiable. Maybe once it is displayed consumers will start pressuring Realtors to negotiate it so … Read more
Have you ever heard of a Flat Fee Buyer’s Agent Commission? Maybe soon you will. There are at least 3 big class-action lawsuits against Realtors claiming the fixed 2.5% buyer’s agent commission should not be paid for by the seller but instead the buyer should pay their own agent. Their argument is this would allow … Read more
A Realtor was so upset that I displayed one photo for expired listings that they reported my website yesterday to the Honolulu Board of Realtors. Per their rules, I have to hide expired and withdrawn listing data from the public unless they sign up with me to see it. I was hiding the detail page … Read more
I read an article in a Real Estate publication that was titled “6 reasons NAR’s commission rules work”. It was an article that backs up why commissions should stay the same. There is a lawsuit that contends that buyers should pay their own agent commission. Currently, buyer’s agents are paid a fixed commission from the … Read more
Asking $885,000 in Pearl City. Sold for $295,000 over asking. Realtor comments say there may be settlement issues. The value is in the land because the lot is 11,250 square feet with R-5 zoning so it could be subdivided and two new homes built. See this link for all the photos and details.