Real estate commissions, typically a percentage of the sale price, are essential to understand in Mississippi's housing market, especially with new mandatory disclosures for buyers.
As of August 17, 2024, buyers in Mississippi must provide written confirmation of their agent's commission rate before home tours, increasing transparency and negotiation options.
Commission rates in Mississippi are negotiable and depend on various factors including location, market conditions, and the specific services provided by agents, thus creating budget flexibility.
Traditionally, sellers paid both their and the buyer's agent's fees from sale proceeds, but new regulations allow for buyers to negotiate their agent's commission differently.
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