Many Buyer’s Agents offer “Rebates” to their clients. How does this rule change affect that?
Additional options have been added to Form 41C to enable the buyer brokerage firm to reduce its compensation and have seller credit the amount of the reduction to the buyer's obligations at closing. Note that such credit is subject to approval by the buyer's lender. Another new option in the form is a simple reduction in the buyer broker compensation paid to the firm. This option could be used in situations where a buyer and buyer's broker agreed to a lesser amount of compensation in a buyer representation agreement or a reduction to make the buyer's offer more competitive. There is also an "other" box that the parties may use to agree on different compensation terms.