At Trophy Signature Homes, we understand that recent industry changes resulting from the National Association of REALTORS® (NAR) settlement might bring up some questions for real estate agents and buyers alike. Our team is committed to clear communication and guidance throughout your home buying journey, so here are some frequently asked questions to ensure you’re well-informed about how these changes may affect you. 

FAQs For BUYERS: 

Q: Who will cover the commission for my real estate agent when purchasing a Trophy Signature Home?

A: We value the essential role that real estate agents play in guiding you to your ideal home. Therefore, we will continue to offer a competitive market rate commission to agents representing buyers. This commitment reflects our dedication to fostering strong, mutually beneficial relationships with our agent partners. 

Q: Do I need a buyer’s agent agreement to tour a Trophy Signature Home?

A: In accordance with the NAR settlement, a written agreement between you and your real estate agent is now required to tour a home. Our team will operate under the assumption that all required paperwork has been finalized when you tour one of our communities. 

Q: How can I find out the commission for a Trophy Signature Home?

A: A written agreement is required for a homebuyer and real estate agent to tour a home. Trophy Signature Homes typically offers a 3% commission, depending on the Buyer Representation Agreement terms. We will assume all proper paperwork has been completed when you come to visit a community. For specific details about commission rates, you can consult with a Community Sales Manager.

Q: When did these changes take effect?

A: The changes introduced by the NAR settlement came into effect on August 17, 2024. For more detailed information about the settlement, you can visit NAR’s office FAQ page. 

FAQs For REALTORS: 

Q: What commission can a real estate agent expect to earn when representing a buyer for a Trophy Signature Home?

A: Trophy Signature Homes offers a competitive commission rate of up to 3% based on the terms outlined in the Buyer Representation Agreement. This is calculated based on the total purchase price, and this rate is applicable to all home purchases across our communities in Texas. 

Q: Is it required to have an agreement between the realtor and the buyer?

A: Yes. As of August 2024, a Buyer Representation Agreement is required. 

Q: How can a real estate agent ensure they receive their commission from Trophy Signature Homes at closing?

A: To ensure that you receive your commission, your client should highlight you as the realtor of record on the sales contract. Commission payments will not be issued for agents if this information is submitted after the execution of a sales contract. 

Our team is here to help

At Trophy Signature Homes, we’re here to ensure that your home buying experience is as smooth and enjoyable as possible. We want you to feel confident in your search for the perfect home, so if you have any further questions about the NAR settlement, or if you’re ready to take the next step in your home buying journey, schedule an appointment with a Community Sales Manager or fill out our online form today.