Ordinance 22-6, effective March 28, 2022. A seller of residential real property must provide the buyer a Short-term rental (STR) disclosure form stating whether or not the property may be legally used as an STR. If the seller discloses that the property being sold may not be legally used as an STR, the form need only be given to the buyer.
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 essentially made the commission negotiable, and a deal was reached that everyone was happy with.
So now if your Realtor tells you commission is not negotiable you can let them know it can be negotiated up, just not down, and it is possible to sell a home offering $1 commission, which essentially sends a message that commission is negotiable.
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 seller, but the price of the property is raised so the seller can pay the buyer’s agent. It is a cost to the buyer because they pay a higher price for the property to cover their agent’s commission.
For the property in the image, the buyer’s agent commission is $134,700.
OahuRE.com rebates 20% of our commission back to the buyer to help them cover their closing costs.