Short Update for Rental Clients (August 2024) Part Two

💡 Did you have a chance to learn about the new rules in place since the 1st of August 2024 – the changes with residential real estate commissions ➡ compensation to be paid for by Buyers/Renters?

Beginning in August 2024 Rental Clients will Pay their Agent

Rental clients must sign/execute a Tenant-Broker Employment Agreement – either for one or multiple properties, one or multiple days, or exclusively for all rental homes the renter could be interested in. I have all my rental clients agree to and sign/execute a Tenant-Broker Exclusive Employment Agreement.

I charge my rental clients a non-refundable retainer fee of $500 upfront, as well as $250 Broker Compensation due at closing/move-in.

Landlords often offer only a couple hundred dollars (sometimes more) in Broker Compensation – if their offer of compensation meets the agreed upon amount within our Tenant-Broker Exclusive Employment Agreement then I issue an invoice to the Landlord at closing/move-in and if not, you (my rental client) will be issued an invoice to cover the $250 or the difference in what the Landlord is offering (e.g., $100 or nothing).

If the Landlord is offering more than $250 then only $250 is collected by me (your agent) from the Landlord.

🎬 Learn more from Part One 1️⃣

📥 Download "179 Ways REALTORS® Are Worth Every Penny" to learn more.
📥 Download "105 More Ways REALTORS® Are Worth Every Penny" to learn more.
📚 NAR Settlement Practice Changes: New Flow of Compensation Effective August 1, 2024
📑 Real Estate Agency Disclosure and Election (Buyer)
📑 Tenant-Broker Exclusive Employment Agreement
📑 Application For Occupancy
📑 Residential Lease Agreement
📑 Tenant Advisory
📑 Seller Compensation Addendum
📑 Move-In/Move-Out Condition Checklist

📆 Schedule time with me to address any questions and concerns about buying, renting, and selling residential real estate in the Valley of the Sun (Metro Phoenix). 🏠 We'll get you where you need to go! 🚀

☎️ Mobile 602-517-4463
📧 Mail@JasonPetersonRealtor.com
🌐 JasonPetersonRealtor.com