How to Attract Buyers Without Agent Fees

By Zak Himmelberger

Zak has been serving the many families he's worked with as a trusted Realtor since 2013. As a native Phoenician, he knows the ins-and-outs of the market like no one else.

It’s official that the Arizona Regional MLS has removed the offer of buyer agent compensation entirely from the MLS and prohibited any compensation offers from its system. This means a seller offering to cover a buyer’s agent’s compensation is no longer required. It’s now a completely negotiable decision that depends on the seller.

Amidst these industry changes, I’d like to discuss buyer incentives, specifically buyer concessions. Offering incentives can attract the right buyers and ensure a smooth transaction. Here’s how it works:

When we list your home on the MLS, we’re making it visible to a wide network of buyers and their agents. Although we can no longer list any offer to compensate the buyer’s broker, this gives us the flexibility to tailor the terms that fit your best interest and the market dynamics rather than being limited by predetermined compensation structures. Offering seller concessions at the close of escrow can benefit you, the seller, and your buyer.

What is a seller’s concession? It is the amount that the seller agrees to credit the buyer. This credit can cover the buyer’s costs related to purchasing the property. Seller concessions can include covering some or all of the buyer’s closing costs, such as loan costs, escrow fees, the buyer’s broker agreement, repair costs, or a home warranty.

There are three main advantages to offering a seller concession. First, you make your home more attractive to buyers. Addressing the buyer’s financial needs upfront makes your property more appealing to those weighing the overall cost of purchasing your house. Second, it can make your home sale quicker because you remove potential issues during the process. Last, you gain a competitive advantage by standing out with buyer-friendly concessions, especially in highly competitive areas.

The decision and the amount of that concession lie with the seller. My role as your real estate professional is to provide accurate information and guidance so you can make the right decisions that align with your goals.

I’m here to answer any questions you may have about this strategy or any aspects of your home-selling process. Let’s make your experience as positive and successful as possible. Call me at (602) 540-6250 or email me at zak@soldbyzak.com. I look forward to working with you!