The laws concerning how real estate agents operate have changed dramatically in the last 12 months!
Before last year, sellers could enter into an agreement with a listing agent to sell their house on the
Multiple Listing Service. The total commission charged to the seller included an offer to pay any buyer
agent whose buyer purchased the property. For example, a seller could list the property for a 6%
commission, and the listing agent could offer buyer agents a 3% payment out of that 6% on the Multiple
Listing Service website.

In other words, the seller’s listing commission included money to be paid to the buyer’s agent…usually a LOT of money!

As part of the settlement of an antitrust lawsuit brought by home sellers, seller’s agents can no longer be
charged a fee which is automatically offered to buyer agents. Theoretically, listing commissions can be
lower for sellers than they were a year ago.

Unfortunately, buyers have been left out in the cold! Buyers are finding it necessary to work with
someone that the buyer has to pay “out of pocket” in order to make an offer on a seller-listed property. 
And buyers now have to negotiate a price with their buyer's agent before even looking at a property! This development makes it hard for buyers to obtain affordable representation, since they will be asked to take on a buyer agent’s commission directly out of their own pocket, at closing. 

Nor can buyer agent commissions be added to most new loans. This means that, in addition to having to pay loan related fees, buyers are now facing the prospect of paying thousands of dollars to their real estate agent, which may not be reimbursed from sellers at all.  Either that or be completely unrepresented while the seller has a real estate agent working for him/her full-time.

Don’t go into a real estate transaction unarmed!  Mr. Livornese offers the following, attorney-based representation for buyers and sellers:

1. Assistance with negotiating real estate contracts;
2. Preparation of a real estate contract with Maryland-specific contract and disclosure forms;
3. Advice on how to handle inspection issues for buyers and sellers;
4. Guidance on obtaining a mortgage loan for buyers
5. Assistance with finding a title insurance company to handle your closing;
6. Review and explanation of your settlement statements with the title insurance company
7. Attending closing

Cost for all services above: 1% of the sales price of the property, paid at closing.