Here at Front Porch Realty, we have always been professionals when helping our seller and buyer clients. At first contact we review the North Carolina Real Estate Commission’s WORKING WITH REAL ESTATE AGENT DISCLOSURE and enter into an Agency Agreement with them. That way ethically, and legally, we can represent our client(s).
Traditionally, the sellers in North Carolina have paid their agent’s commission and their agent shares part of that commission with the agent that brings the buyer. This is one of the major changes dictated by the lawsuit. This compensation agreement has always been spelled out in our Agency agreements with great explanation to our seller clients, however “buyer’s agent” commission has also always been displayed on our local MLS for buyer’s agents to see. With the recent lawsuit settlement changes, local MLS platforms will no longer be able to display any commission or fee a seller, or seller’s agency, is willing to pay to a buyer’s agent. With this now in place, some agencies will need to either get their commission paid by their buyer client OR request the seller pay their commission when writing an offer to purchase.
At first glance, this may be a more “fair” way for agents to get paid for their services (the actual buyer they are representing pays them) however, forthcoming I see lots of unfortunate possibilities for buyers, as well as home sellers.
What if the Buyer does not have the funds to pay for their representation?
They won’t be able to get proper legal representation for one of the biggest money transactions of their life?
What if a seller offers to pay a Buyer’s Agent for one offer and not another?
I see big Fair Housing red flags.
What if a neighboring home is offering a large Buyer’s Agent compensation and you are not offering any compensation to Buyer’s Agents? ( Buyer’s agent compensation will be allowed to be displayed in all marketing of homes)
Is your home going to get “passed over” by buyers that can’t afford to pay for their representation?
To me, this ruling is an unfortunate step backwards in the world of buying and selling homes. Commissions have ALWAYS been negotiable, and will continue to be. Front Porch Realty agents hold themselves to the business ethics standard proclaimed by the National Association of Realtors® and we will continue to do so.
The second big rule change stemming from the NAR lawsuit is that Buyer Agents MUST enter into a written Buyer Agency Agreement with their buyer CLIENT prior to showing them a home. This is another “Business As Usual” practice for Front Porch Realty. We KNOW there are lots of agents out there that will show prospective buyers homes at the drop of a hat, whether qualified or not, this has never been our practice at Front Porch Realty. As a seller, do you really want a non-qualified buyer touring your home? We have practiced teaching and educating our buyers on what to do when entering the housing market to position themselves into the best possible scenario to buy a home. The key term here is CLIENT. Of course buyers will still be able to find an agent that will jump for them anytime, day or night, to show them a home in hopes they can “make the sale”. Rest assured, Front Porch Realty agents put a lot of time, effort, and professionalism into helping our buyer client’s find a home and get them through offer to close.
Let us know how we can help you in your next real estate adventure!
-Laura Evans
Click HERE to get in contact with Front Porch Realty TODAY! 
When a market is hot, finding and buying a home can feel like an uphill battle. In a seller’s market, homes go quickly. They can be on the market one day and gone the next. And on top of the challenge of finding a home, most homes (especially the desirable ones) have multiple offers, making it harder to get into the home of your dreams.
But buying a home in a hot market isn’t impossible! You just have to approach it strategically and stack the deck in your favor to find – and successfully buy – the right home for you and your family.
Here are four tips for buying a home in a hot market that will put you a step ahead of the home-buying competition: 
As I said at the beginning there is some low inventory with homes priced under $300,000.00; however, if you don’t look for a home then you surely won’t fine one, and there are homes to be found even in that price range. So what else do you need to consider in a home purchase? First, do you have enough money to buy a home?
The Price Tag…..
There are several loan programs available that will get you into a home for zero or a very low down payment with reasonable interest rates. But you will need to have some cash to cover expenses like the appraisal ($450) which is paid upfront and out-of-pocket in the home buying process. You will also need money for closing costs, which come due on the day you sign the promissory note at closing.
If you don’t have enough cash to cover the closing costs, talk to your realtor about negotiating these into the sales contract. There is an easy way to handle this scenario. Let’s say that you want to purchase a home that’s listed at $187,500.00. You would like to pay $185,000 for the house and you know that you need $5,000 to help cover closing costs. Simply ask your Realtor to write the offer to purchase for $190,000 with the seller paying $5,000 in closing costs.
Show me the Money…
But how do you know how much closing costs are going to be? And, how do you know if you earn enough money to be able to qualify for a mortgage loan to begin with? Now we come to the crux of the matter. The best way to answer these questions is to call me and start the application process. With just a little information, I can quickly see if you can be prequalified for a mortgage loan. I can also make sure that you’re taking advantage of the best loan programs available.
Home-ownership is part of the American dream; and with interest rates still at historically low levels now is a great time to explore your options. Call me today and let’s get started on getting you into the home of your dreams!
Jenny Miller
Loan Officer
NMLS: 1054076
Sierra Pacific Mortgage Company
6736 Falls of Neuse Road Suite 120
Raleigh, NC 27615
Phone: 