Gainesville real estate leader Dustin Sims of Bosshardt Realty Services, argues that recent changes to real estate commission structures are bringing unprecedented transparency to transactions, despite initial industry concerns.
“What I love most about these changes is that everything is now very black and white regarding expectations,” Sims explains. The new rules, which took effect in August 2022, eliminated automatic commission posting in the MLS and mandated more explicit agreements between agents and clients.
This increased formalization of relationships has improved the quality of showings and serious buyers, according to Sims. “If you are doing your job as a buyer’s agent, which is making sure that person is set up for success and qualified, by the time you’re going to show that person a house, you know they’ve been vetted,” he notes.
Sims frequently encounters clients who misunderstood the impact of these changes. “They ask how do you get paid now that all this has changed?” he says. “I explain that it doesn’t really change at all – it just makes everything more transparent and negotiable.”
The new framework actually codifies many existing best practices, according to Sims. “We’ve always had buyer broker agreements. We’ve always made sure that sellers and everyone understood how the system worked,” he explains.
For both buyers and sellers navigating these changes, Sims emphasizes the importance of working with agents who can clearly explain the new framework. “It’s about helping people understand this isn’t as scary or convoluted as some news coverage made it sound,” he says.
“If you’re doing your job properly, 99.9% of the time you know that person touring your house has been properly vetted and qualified to buy,” Sims notes. “That’s better for everyone involved in the transaction.”
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