Buyer’s Agent Compensation with SouthCraft Home Builders
SouthCraft Home Builders greatly values our longstanding partnership with buyer’s agents and recognize the important role they play in SouthCraft Home Builder's success. Last year, over 70% of our home sales involved buyers who were represented by buyer’s agents, highlighting the significance of our collaboration.
As you may be aware, the NAR litigation settlement agreement necessitates changes in how agency relationships and the timing of that relationship are managed. To safeguard and uphold our valued relationship with buyer’s agents, we request your physical presence with clients during their initial visit to any of our communities or home sites. This will ensure clarity and is essential for transparency to protect your commission, aligning with the settlement requirements.
If you are unable to accompany your buyer(s) on their first visit, we ask that you register them prior to their first visit to one of our SouthCraft homes. If the buyer(s) comes to the SouthCraft home without a buyer’s agent and the agent didn’t register them prior to their visit, the buyer will be given 24 hours from the date & time of their registration to add a buyer’s agent. We recognize that buyers may visit without prior notice, especially when viewing new construction model homes, which can pose challenges in regards to the new requirements. To manage this, we require all potential buyers to register upon their initial visit to our models. This registration will include a section to add their buyers agent information. If they do not add their buyer’s agent information, they will have 24 hours from the time they registered to add the agent’s information. They will be sent an email, immediately after registering with a link to update their buyer’s agent information. This process ensures representation by the buyer’s agent is recognized and documented. Once the agency/buyer relationship is established, all further communication should be conducted between the buyer’s agent, as the representative, and SouthCrafts sales team.
It's important to emphasize the failure of not completing the necessary requirements above will impact the buyer’s agent commission eligibility paid by SouthCraft Home Builders, resulting in the buyer’s agent commission being an agreement of compensation between the buyer & their buyer’s agent. Before a Lot Reservation or Purchase Agreement is made between the buyer and SouthCraft Home Builders, you must upload the buyer’s agency agreement or compensation agreement into our portal or otherwise provide a copy of it to us. These measures are essential to follow the new rules and uphold the integrity of our partnership with you.
We appreciate your cooperation in helping us implement these procedures. Rest assured, as long as these requirements are met, we remain committed to honoring your value and dedication by continuing to offer up to 3% commission (based upon community & signed buyer agency agreement/compensation agreement) to you as a buyer's agent.
Again, our commitment to maintaining a fair and respectful partnership with buyer’s agents remains steadfast. Your professionalism and dedication are important, and we are eager to continue our successful collaboration together. Thank you for your attention to these updates. Should you have any questions or concerns, please do not hesitate to reach out.
