NEW Real Estate Listing Contract in Hawaii [What You NEED to Know]

NEW Real Estate Listing Contract in Hawaii: What You NEED to Know. Are you considering selling a home in Hawaii? In August 2024, new rules for real estate commissions went into effect. This includes changes in the listing contracts or listing agreements. In this video, we cover these changes and explain everything home sellers need to know about the new listing contract. How are you impacted by these changes as a home seller in Hawaii? Watch the FULL video to know more about the the new real estate commission rules and the overall changes in the home selling process.

Here are the huge changes in the real estate listing contract:
✅ New Compensation Rules: Previously, the listing broker's commission was often split with the buyer's brokerage. Now, this practice is discouraged, and compensation between brokers is no longer advertised on MLS.
✅ Buyer's Broker Compensation: Sellers can still choose to compensate the buyer's broker through three options: paying through the listing broker, directly compensating the buyer's brokerage, or negotiating compensation at the time of the offer.
✅ Unrepresented Buyers: If a buyer is represented, the listing broker may negotiate additional fees with the seller to cover the extra work involved in managing both sides of the transaction.
✅ Buyer Concessions: Sellers can offer concessions directly to buyers (e.g., to cover repairs), which buyers may use to pay their broker, loan fees, or other closing costs.
✅ Negotiation Flexibility: While sellers aren't required to offer compensation, they must be prepared for buyers to negotiate it in the purchase contract, especially if the buyer needs financial assistance for closing costs.
✅ Implications for Sellers: The changes allow more negotiation flexibility, potentially saving sellers money. However, buyers may still request compensation.
✅ Negotiating at Time of Offer: Sellers now have more control over when and how much to negotiate for compensation, which can be beneficial, especially if their home has been on the market for a long time.

For any questions about buying, selling, or anything related to #HawaiiRealEstate, feel free to contact me. Like this content? Hit the LIKE and SUBSCRIBE buttons for more!

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