HERE’S THE DEAL

The Settlement Agreement between the National Association of REALTORS® (NAR) and the plaintiffs in the Burnett et al. v. NAR et al. class action lawsuit takes effect August 17, 2024.

HERE’S THE DEAL IS READY

A PLATFORM FOR INFORMATION SHARING

HERE’S THE DEAL provides Sellers, Listing Brokers, Listing Agents, and FSBOs (SELLERS) a platform to share information with Buyers, Buyer Brokers and Buyer Agents (BUYERS).

REALTORS® who register remain compliant with The Settlement Agreement. We don’t aggregate nor are we data fed.

HERE’S THE DEAL – A SPACE FOR A FREE MARKET TO EXIST

The plaintiffs successfully argued past practices by the defendants resulted in static and overpriced commissions. The Settlement Agreement strives to create a real estate environment in which competitive pricing of compensations exists. The presumption is an open marketplace will reduce cooperative compensation rates or eliminate them totally.

Information is vital for competition to be dynamic. For SELLERS to discern not only the listing price of their properties for sale but also how to position themselves to attract the most BUYERS, in the shortest time possible, for the highest price obtainable; they need to know their competition. SELLERS cannot determine their best pricing and marketing strategies blindly. Transparency is essential.

In addition to hosting an independent platform for SELLERS to openly share information with BUYERS; HERE’S THE DEAL allows SELLERS access to research their competition (comparable properties for sale). Knowing their “comps” marketing strategies helps determine SELLERS’ best strategy.

HERE’S THE DEAL is the anti-anti-trust platform.

SOME SELLERS OFFER INCENTIVES IN PROMOTING PROPERTIES FOR SALE

Many SELLERS believe cooperative compensation is effective and fair to both parties. They hold the position without offering cooperative compensation fewer homes would be shown let alone sold.

Arguments for this position include For Sale by Owner (FSBO) statistics showing homes often end up on the MLS with REALTOR® representation. They understand that’s where the Buyer Brokers, Buyer Agents, and indirectly Buyers (via those websites that are data-fed and aggregate) find their properties for sale. They also know most of the time Buyer Agents bring the Buyers to the closing table.

Many Buyers struggle with down payments and other costs associated with home purchase. Quite often they need assistance compensating their Buyer Broker/Agent; especially first-time home Buyers for whom representation is arguably essential. SELLERS who offer incentives hope to attract these Buyers.

OTHER SELLERS PROMOTE THEIR PROPERTIES FOR SALE NET OF INCENTIVES

SELLERS who choose to promote their properties without BUYER incentives ascribe to game theory and Nash equilibria, in which everything gets settled at the negotiating table: They assume Buyers have the fortitude to formulate their offers accordingly (with or without Buyer Broker/Agent representation).

HERE’S THE DEAL appreciates and respects both positions. Regardless of SELLERS’ marketing strategy, HERE’S THE DEAL is an all-inclusive platform for ALL SELLERS to promote their properties.

INFORMATION UNCHAINED

Whether it’s to promote offers or inform Buyers otherwise, HERE’S THE DEAL is the platform SELLERS need to get this information to potential BUYERS.

HERE’S THE DEAL is here for BUYERS to obtain that information immediately and efficiently.

TRANSPARENCY SIMPLIFIED – HOW IT WORKS

SELLERS register with HERE’S THE DEAL then post in SHARE INFORMATION cooperative compensation or concession incentives Seller is offering BUYERS or they post to let BUYERS know otherwise. Our data entry form has ample space for SELLERS to communicate to interested BUYERS any information deemed necessary for BUYERS to make informed decisions.

A TRANSACTION ASSISTANT – A TIME-SAVING DEVICE

FOR SELLERS AND BUYERS

SELLERS already have a variety of venues to promote their properties for sale. HERE’S THE DEAL is not a substitute or additional marketing vehicle. SELLERS advertise here so BUYERS know immediately what’s the deal.

BUYERS log on to HERE’S THE DEAL after they’ve found homes they might want to buy. However, they need to know what’s the deal before deciding which homes to tour; and subsequently, for homes they want to formulate offers to purchase.

We eliminate the need for BUYERS to search various websites, and call, text, or email numerous SELLERS to inquire about incentives. BUYERS log on to HERE’S THE DEAL and efficiently find the information they need.

Simultaneously we relieve SELLERS of the burden of responding to a proliferation of inquiries.

THE NEED

HERE’S THE DEAL

HERE’S THE DEAL IS READY

HERE’S THE DEAL IS READY