LAGUNA BEACH, Calif.--(BUSINESS WIRE)--In a dramatic response to the recent judgment against the National Association of Realtors (NAR) and the adoption of new industry rules, ShopProp is taking a bold stand to ensure that home buyers are not left out in the cold. These changes threaten to exclude buyers who cannot afford to pay a buyer's agent commission, but ShopProp is committed to preventing this unfair consequence.
Under the new rules, NAR-owned Multiple Listing Services (MLSs) can no longer post the buyer's agent commission. This means the commission is removed from the listing agreement, and when making an offer, the buyer must include the buyer's agent commission in the offer and ask the seller to pay it. If the seller refuses and the buyer lacks the funds to cover the buyer's agent commission, they risk being shut out of the market and unable to secure representation. This is particularly concerning for buyers in competitive markets, as they will be at a significant disadvantage. The commission you are asking the seller to pay is now a critical term that might determine whether you secure the property or not.
Recognizing the severity of this issue, ShopProp pledges to fill the gap by offering commission-free buyer agency services to those who cannot afford the commission when the seller won't cover it. This offer is based on our resources and commitment to ensuring fair access to the market. Additionally, ShopProp commits to offering the lowest buyer agency commission in the market for similar services to those who can afford to pay.
"ShopProp has always championed transparency, options, and low costs for home buyers and sellers," declares Rob Luecke, CEO of ShopProp. "The potential for these new rules to lock some buyers out of the market is deeply unjust. ShopProp is unwavering in our commitment to provide representation for everyone, including those who may be financially constrained."
Luecke highlights the urgency of this commitment for groups such as veterans, who might be utilizing zero-down programs and lack the funds for buyer representation. "Our vets, for instance, deserve comprehensive representation, and ShopProp is determined to ensure they receive it."
This bold initiative underscores ShopProp's dedication to fairness and accessibility in the real estate market. By offering commission-free buyer agency services based on available resources and the lowest buyer agency commissions, ShopProp aims to uphold its mission of supporting all home buyers, regardless of their financial situation.
For more information, visit https://www.shopprop.com/#/home.
About ShopProp:
ShopProp is a pioneering real estate company committed to offering transparent, low-cost services for home buyers and sellers. With a focus on innovative solutions and client-centric approaches, ShopProp strives to make the real estate process straightforward and accessible for everyone.
