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Understanding the New Rules and How Our Lower Fees Benefit You As You Get Ready to Purchase a Home in the Denver area
How real estate agents get paid fundamentally changed as of August 17, 2024, following a major industry settlement. Traditionally, sellers would cover the commission fees for both their agent and the buyer’s agent through the Multiple Listing Service (MLS). Under the new rules, buyer’s agent compensation can no longer be advertised on the MLS, and buyers must now sign written agreements that specify what agents will be paid.
In some transactions today, buyers are being asked to take more responsibility for covering their agent’s commission directly. However, sellers can still choose to offer buyer’s agent compensation—it just needs to be negotiated outside of the MLS system.
The excellent news is that buyers can easily include agent compensation in their purchase offers, and this is where our “More Service. Lower Fees.” approach provides significant advantages. If the seller isn’t offering compensation to us as your buyer’s agents, we’ll negotiate it into the contract as part of your offer terms.
We’ll ask the seller to pay our 2.5% commission, which is substantially lower than many other agents’ compensation requirements. This creates a powerful competitive advantage for our clients in Denver’s market.
Your offer will be significantly more competitive since our 2.5% buyer agent commission is lower than that of many other agents who may demand 2.8% or even 3% compensation. This difference can mean thousands of dollars in savings for sellers, making your offer more attractive.
Consider this real-world example: You and another buyer both submit offers of $600,000 for the same Denver home. Both offers request that the seller cover the buyer’s agent commission, but one agent charges 3% while we charge 2.5%. Your offer asks the seller to cover $15,000 in agent commissions, while the competing buyer requests $18,000 to pay their agent. Your offer becomes much more likely to be accepted by the seller, giving you a distinct advantage in competitive situations.
Of course, you shouldn’t have to settle for anything less than exceptional service from your real estate agent, regardless of compensation structure. Whoever represents you should demonstrate local Denver market expertise, strong negotiation skills, and access to comprehensive resources that support you before, during, and after your purchase.
You should expect personalized service and ongoing support, cutting-edge technology, and a proven track record of success in Metro Denver. Your agent should also excel as a communicator and maintain the highest standards of honesty and integrity throughout your transaction.
While many agents charge 3% in commissions, we represent Denver area buyers for just 2.5%. This lower fee structure doesn’t mean reduced service—quite the opposite.
We ensure you see properties that best align with your needs, budget, and lifestyle preferences across Metro Denver. You’ll have access to our industry-leading app and website featuring detailed information about homes, neighborhoods, schools, and local amenities. With our guidance, you’ll find the right home in the perfect Denver area location.
Our team provides expert analysis of market trends and fair pricing strategies specific to different Denver neighborhoods. We’ll guide you through creating competitive offers based on current market conditions and each property’s unique characteristics, ensuring you don’t overpay while positioning your offer for acceptance.
David Lampe and Tom Grant work as an integrated team, and this collaborative approach ensures someone is always available to guide you through important decisions, analyze the pros and cons of your options, and provide the comprehensive support you deserve. This team structure means faster responses, broader expertise, and more thorough service throughout your homebuying journey.
Buying a home involves extensive paperwork and legal documents, which can feel overwhelming for many buyers. We simplify this process by helping you understand the terms and conditions of all agreements, ensuring everything is completed accurately and submitted on time, and answering all your questions in plain language.
When you need other professionals—such as home inspectors, mortgage lenders, contractors, or attorneys—we connect you with trusted experts who have established excellent track records with our clients. We help coordinate these services efficiently, streamlining your entire homebuying experience.
We get paid when we successfully close on the purchase of your home, aligning our interests completely with yours. This success-based compensation ensures we’re motivated to negotiate the best possible terms, find you the right home quickly, and guide your transaction to a smooth closing.
The recent changes in real estate compensation create both challenges and opportunities for homebuyers. While the new rules require more upfront clarity about agent fees, they also create competitive advantages for buyers who work with efficient, lower-cost agents like our team.
Our 2.5% commission structure, combined with our comprehensive service approach, means you get exceptional representation while maintaining a competitive edge in offers and potentially saving thousands in overall transaction costs.
Get more service with lower fees when you buy a home in Metro Denver with David and Tom at The Principal Team. Contact us today to learn how these industry changes can work in your favor as you search for your perfect Denver area home.