Recent Industry Transformations

The recent changes in real estate weren’t just industry shifts—they were the catalyst for starting KRG. While much of the market struggles to hold on to outdated practices, we recognized that the practice changes and reforms were necessary for a reason. KRG was built to serve clients in a way the old system couldn’t, with a modern, transparent approach designed to put your needs first.

The Major Changes Impacting Buyers and Sellers

Buyer's Agency

Buyers are now required to sign a formal representation agreement with their agent before they can view any property. At KRG, we saw this change as an opportunity for buyers to properly vet who they want to work with. We take pride in our comprehensive buyer presentations and relish the chance to showcase our value proposition to prospective clients, ensuring they feel confident in choosing the right partner for their home search.

Defined Compensation

When a buyer signs a representation agreement with their agent, part of the agreement outlines the broker's compensation fee for their services. This fee is set in the contract and will be paid to the agent regardless of whether the seller offers cooperative compensation. If the seller offers less than the agreed fee, the buyer is responsible for covering the difference. However, if the seller offers more than the fee in the contract, the buyer is entitled to keep the excess as a credit toward their closing costs.

Coop Fields Removed

Cooperative compensation fields have been removed from the MLS, meaning commission details are no longer displayed on listings. While sellers can still offer compensation to buyer’s brokers, this information will not appear on the MLS or major sites like Zillow and Realtor.com. This makes it more important than ever for buyers to have an agent who can skillfully negotiate on their behalf, while also ensuring the protection of a fair commission outlined in their buyer agency agreement.

How This Affects Consumers

As a buyer, it's crucial to carefully vet your agent rather than simply signing up on website forms or hiring someone without thorough consideration. The agency agreement you sign to view a home is not just a formality—it's a legally enforceable contract. This means that if the seller isn't offering enough compensation to cover the commission outlined in your agreement, you could be responsible for making up the difference. Understanding the terms and length of the contract upfront is essential to protect your interests as a buyer.

For sellers, crafting a strong cooperation strategy can make a big difference in how much you walk away with at the end of the sale. Offering the right concessions or compensation to a buyer’s agent can influence how quickly your property sells and how much interest it generates. While some agents may stick to outdated practices, being strategic with compensation can help you secure the best possible outcome for your sale.

Leveraging Industry Changes
to Your Advantage

At KRG, we’ve built our entire brokerage business model around the new era of real estate. Our approach focuses on educating our clients and ensuring transparency at every step, so you fully understand how these shifts impact your buying or selling experience. By leveraging these industry changes, we put you in a stronger position whether you are buying or selling. Our innovative strategies are designed to maximize your benefits, ensuring you stay ahead in this evolving market.

Let us show you how our forward-thinking approach works to your advantage.

Our Approach