Procuring the Buyer
Your marketing ability can be used in a unique way to help get your home the most exposure. Even when a home is listed with an agent, it is not uncommon for a homeowner to find the buyer. While the typical real estate listing contract does not allow for the seller to receive a discount if they find the buyer themselves, the 2 Percent Commission marketing program is unique in that sellers pay only 2% when they procure the buyer through their own efforts.
Your 2PC agent will support you with following up on buyer leads, contacting buyers who have come through your open houses for follow up, help buyers to connect with lenders, explain to the buyers the process of selling your home required from writing an offer to attending closing on settlement day. Approximately 50% of the buyers in 2011 were first time home buyers. These buyers require more assistance than seasoned home buyers. Regardless of whether or not the agent or the seller procures the buyer, your agent will assist the homebuyer with support throughout the home buying process.
The seller is entitled to pay only 2% commission as long as the buyer does not already have a written binding buyer agent agreement with a real estate agent and the seller is the procuring cause for the transaction taking place. If any licensed real estate agent accompanies the buyer on the first visit or has a written buyer agency agreement with the buyer then the seller will not be considered the procuring cause for this program.