As seen on KRQE New Mexico Living 

https://www.krqe.com/new-mexico-living/talia-freedman-and-co-offers-guidance-for-real-estate-sellers/

Question 1: What’s changed for sellers?
The biggest change for sellers is that compensation is no longer listed in the MLS, The reason this is important is it was “unconditional compensation” to the buyer’s broker from the listing broker. Literally unconditional so if a seller got a lot less for their house, or (as was the case when these suits began), they had buyers throwing money at sellers trying to buy their house, they could not negotiate who paid the buyer’s broker fee because they already had a contract with the listing broker agreeing in advance to allow them to share their compensation with the buyer’s broker. And the listing broker was bound contractually to pay the buyer’s broker because listing it in the MLS was essentially a contract. 

But what does this all mean? It means that unless a seller chooses to make the same promise contractually in their listing agreement, who pays the buyer’s broker fee is now negotiable between the buyer and seller.

Question 2: What has NOT changed for the seller?  What hasn’t changed is the same advice I give to buyers about interviewing brokers. You should work with someone you trust to have YOUR best interest at heart, that you feel confident in their abilities to represent you, and who understands this is likely your largest asset and will work to help you reach your goals. 

I always tell the sellers that they are the captain of this ship and I am the navigator. I will make sure they are armed with my insights into the market and education about the process. Then they’re going to decide where they want to go and I will help them figure out how to get there. 

Question 4: What if a seller absolutely does not want to pay a buyer’s broker fee?
Whether or not to pay a buyer’s broker fee or buyer closing costs is ultimately up to the seller. If they don’t want to contribute the buyer’s costs they don’t have to agree to that. 

But, it’s also important for sellers to know that the majority of buyers are getting mortgages. And the majority of those buyers have been saving money based on the old paradigm where the seller almost always paid their broker’s fee. Between the changes with the settlement and the dramatic increase in homeowner’s insurance, some buyers are seeing their closing costs triple. So, while some future buyers might be able to save enough money to pay all of their own closing costs, buyers right now need more help than ever before. 

So, if a seller wants to mostly only appeal to cash buyers, they can stand firm on not helping with closing costs, but if they want to appeal to the widest array of buyers they will need to stay open to paying some buyer closing costs even if they don’t want to decide on the amount ahead of time.