BUYERS & SELLERS

​MRL01 - SPECIAL NOTICE TO BUYERS:  Historically, Buyers Broker Compensation has been shared with the Buyers Broker from funds received from seller to the Listing Broker.  While this may have been "Common Practice", there has never been a requirement to share compensation nor has there ever been an industry set percentage that is to be shared.  For this reason, it is important to understand what compensation is expected from your Broker.  Toward that end, we are providing these "Consumer Notices" in an effort better inform the Clients and Customers with whom we engage. The Modern Rustic Living Team at Coldwell Banker High Country Realty believes it is important for Buyers to understand how we are compensated for the services we provide.   Unless otherwise stipulated in a Buyers Broker Agreement, we charge the following fees:  

• 3% of sales price for representing you when buying a home

• 5% of sales price for representing you when buying land (lot, tracts, acreage)

• 5% of sales price for representing you when buying commercial properties

 

BUYER NOTICE:  It should be noted that most Sellers continue to offer compensation sharing between Listing & Buyers Brokers.  However, the percentages that may have been commonly shared in the past is evolving as our market evolves and/or changes.  Therefore, it should be understood if a Seller (or Listing Broker) offers compensation that is less than the fee we charge for our services, the Buyer is expected to make up the difference and pay the shortfall (if any).   Also note that you as the Buyer may elect to avoid considering any property where the Listing Broker either does not share compensation with your Buyers Broker in full or in part in order to avoid having to pay Broker Compensation.  If the possibility of having to pay your Buyers Broker a fee is of concern to you, we encourage you to confirm with your Broker what compensation is offered and/or shared for each property you may be considering and to understand that you will be charged for any compensation shortfall from the fee structure defined above and/or defined in the Buyers Broker Agreement you have with us.  Please feel free to discuss this with your Broker to clarify our terms and conditions before engaging with us or signing a Buyers Broker Agreement.  

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MRL02 - INSUFFICIENT CO-OP COMPENSATION: Customer/Client acknowledges ultimate responsibility to compensate Broker for services.  In the rare, but possible, situation where the Buyer’s Broker encounters a listing offering them a co-op commission less than the minimum agreed to per A.4.b., page 1 of the Brokerage Engagement Agreement, Buyer authorizes the Broker to use their own judgment in showing or not showing such properties to Buyer.  While the Buyer may choose not to engage with an agreement to purchase a property that does not offer a Co-Op Commission equal to or greater than agreed in the Buyers Broker Agreement, if such property is shown and purchased, Buyer will be invoiced for and pay any commission shortfall.

 

MRL03 - SPECIAL NOTICE TO BUYER CLIENT:  While Broker/Agent may guide and advise a Client to some degree, Client acknowledges it is their own responsibility to investigate and assess the suitability and condition of the property. Broker advises buyers generally to at least procure or review a survey, a septic or sewer issues report, and confirm water source and quality.  This should all be done prior to the end of the due diligence period and if an inspection is needed to provide said report, this should be ordered by the Buyer prior to the end of due diligence.  

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MRL04- SHORT TERM RENTALS: Buyer is informed that Union County, GA, City of  Blue Ridge, Fannin County, GA, and possibly other local area governing authorities have enacted ordinances regulating the business of short-term rentals (STRs).  If Buyer expects to use the purchased property for STR, or is concerned about the effect of such potential restrictions on future marketability or value, then the buyer is advised to and agrees it is their responsibility make an inquiry with the local authorities prior to making an offer to purchase.

 

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BROKERS & REALTORS

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MRL05 - SPECIAL NOTICE TO BUYER BROKERS:  The Modern Rustic Living Team at Coldwell Banker High Country Realty believes it is important for Sellers to provide incentives to any Buyer Broker that brings us a buyer of our listed properties.  Toward that endeavor, we will share our commissions upon successfully closing a transaction with any Buyers Broker/Agent that brings us a buyer.  Unless otherwise notified in writing before closing, the Modern Rustic Living Team will agree to share our commission with the Buyers Broker as follows:

• 3% of sales price for homes

• 5% of sales price for land (tracts, lots & vacant land)

• 5% of sales price for commercial properties

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Exceptions:

• 2% - If a Buyers Broker (or their representative) requests the Listing Agent to show one of our listings and/or the Buyers Broker (or their representative) is not present for a showing requiring the Listing Broker (or their representative) to show the property, the commission paid to the Buyers Broker will be reduced to 2% of sales price.  

• 1% - If a Buyers Broker cannot or chooses not to show one of our listings and wants to refer said client to us, we will pay the original Buyers Broker a 1% commission of the sales price and engage with the buyer as a customer to facilitate the transaction to close, providing a 1% commission of of sales price to the referring Broker.   A 1% commission only applies to those referrals where we have the property listed and there is no other agent involved in the transaction.  Otherwise, if another agent is involved or the buyer ends up purchasing a property that is not one of our listings, the referral fee is considered a general referral (see below for details on general referral commissions). 

• 25% - For general referrals, we pay 25% of the Selling Side of the commission that we receive to a Referring Broker unless otherwise specified in a referral agreement between the two Brokers involved.  

 

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