THE SIMPLE IDEA
Full Representation. A Smarter Commission.
If you already know how to search for homes and enjoy visiting open houses on your own, why pay for routine home-search and touring services you may not need?
With the Team Lloyd & Associates 1% Open House Buyer Plan, you handle the primary property search and independently attend publicly available open houses. When you identify a home you want to evaluate or pursue, our team steps in to provide professional buyer representation through the transaction.
The plan changes how the work is divided. It does not reduce the standard of professional representation or our duties once applicable.
HOW IT WORKS
Search
Search for homes using the websites, apps, referrals and other lawful sources you already use.
Attend Open Houses
Independently visit publicly available open houses and explore the neighborhoods and properties that interest you.
Contact Us
When you find a property you want to evaluate or pursue, contact Team Lloyd & Associates before signing an agreement or establishing representation with another broker.
Put it in Writing
We establish the applicable buyer representation and compensation terms in writing before moving forward.
Offer & Negotiate
We help analyze the property, review comparable sales, develop offer strategy, prepare the purchase documents and negotiate on your behalf.
Transaction
We guide you through disclosures, inspections, investigations, contingencies, appraisal and the important deadlines of the transaction.
Loan & Closing
We coordinate with the appropriate transaction professionals and help guide the process through escrow and closing.
Welcome Home
Complete your final walkthrough, close escrow and receive the keys to your new home.
Team Lloyd & Associates
WHAT YOU HANDLE.
WHAT WE HANDLE.
Designed for buyers who want professional representation while retaining total freedom over their initial home search.
YOU HANDLE
- Primary property search
- Finding properties that interest you
- Independently attending publicly available open houses
- Identifying the property you want to evaluate or pursue
WE HANDLE
- Property-specific analysis and comparable sales
- Offer and negotiation strategy
- Preparation and presentation of purchase documents
- Negotiation on your behalf
- Transaction documents and disclosures
- Inspection and investigation guidance
- Required broker visual inspection when applicable
- Contingency and escrow guidance through closing
THE BUYER'S ADVANTAGE
Under the 1% Open House Buyer Plan, Team Lloyd & Associates' intended retained compensation is 1% of the acquisition price. Your maximum personal compensation obligation under the plan is 1% of the acquisition price.
When additional compensation is actually obtained from the seller or another permitted source, compensation received above 1% may be available for a buyer rebate through escrow, up to a maximum of 2% of the acquisition price, subject to the written agreement and transaction requirements.
Potential Buyer Rebate: Up to 2%*
Financial Overview
ILLUSTRATIVE $1,000,000 PURCHASE
A transparent representation breakdown demonstrating potential buyer rebate scenarios based on actual compensation received.
| TOTAL COMPENSATION ACTUALLY RECEIVED | TEAM LLOYD RETAINS | POTENTIAL BUYER REBATE |
|---|---|---|
| 3.0% / $30,000 | 1.0% / $10,000 | Up to 2.0% / $20,000 |
| 2.5% / $25,000 | 1.0% / $10,000 | Up to 1.5% / $15,000 |
| 2.0% / $20,000 | 1.0% / $10,000 | Up to 1.0% / $10,000 |
| 1.5% / $15,000 | 1.0% / $10,000 | Up to 0.5% / $5,000 |
| 1.0% / $10,000 | 1.0% / $10,000 | $0 |
Real estate compensation is not fixed by law. It is set by each broker individually and may be negotiable between the buyer and broker. Seller participation is voluntary, negotiable and not guaranteed. Any rebate depends on compensation actually received and is subject to the buyer representation agreement, lender and loan-program requirements, underwriting, escrow requirements and other transaction-specific limitations.
BUYER'S ADVANTAGE CALCULATOR
See What Your Buying Strategy Could Mean in Dollars
Enter the price of the home you're considering and compare the potential economics of the 1% Open House Buyer Plan.
IMPORTANT DETAILS
- The 1% plan is designed around a buyer-led property search and independent attendance at publicly available open houses.
- Routine broker-accompanied open-house touring and routine private property showing services are not part of the intended 1% service model unless separately agreed to in writing.
- An agent hosting an open house may represent the seller or another party and should not be assumed to represent you.
- Contact Team Lloyd & Associates before signing a buyer representation or compensation agreement with another broker.
- Seller-paid buyer-broker compensation is voluntary and negotiable. No seller is required to pay any particular amount.
- Any potential rebate is handled through escrow and is subject to applicable law, lender approval, loan-program requirements, underwriting and transaction-specific limitations.
Frequently Asked Questions
The plan is designed to provide professional buyer representation once you identify a property you want to evaluate or pursue. The primary difference is that you perform the primary property search and independently attend publicly available open houses.
Yes. The 1% Open House Buyer Plan is specifically designed for buyers who prefer to independently attend publicly available open houses. Be careful not to sign a representation or compensation agreement with another broker without first discussing how it could affect your existing representation.
No. A buyer may negotiate for the seller to pay some or all of the buyer's agreed broker compensation, but the seller is not required
No. A rebate is available only to the extent additional compensation above Team Lloyd & Associates' 1% retained compensation is actually received from the seller or another permitted source, and only to the extent permitted by the transaction, lender, loan program, underwriting and escrow requirements.
The potential rebate adjusts to the compensation actually received. For example, on a $1,000,000 purchase, if total compensation actually received is 2%, Team Lloyd & Associates retains 1% and the potential buyer rebate would be up to 1%, subject to the transaction requirements.
Under the 1% plan, the buyer's maximum personal compensation obligation is 1% of the acquisition price, subject to the written buyer representation and compensation agreement and addendum.
Routine private showings are not part of the intended 1% service model unless separately agreed to in writing. Buyers who want Team Lloyd & Associates to conduct the home search and provide routine private showings may prefer the 2% Full-Service Buyer Plan.
If your needs change, speak with Team Lloyd & Associates about changing the service level and updating the written buyer representation and compensation terms.
LEGAL / DISCLOSURE COPY
Real estate compensation is not fixed by law. It is set by each broker individually and may be negotiable between the buyer and broker. The 1% Open House Buyer Plan is governed by the applicable written Buyer Representation and Broker Compensation Agreement and Team Lloyd & Associates plan addendum.
Potential buyer rebates shown on this page are illustrative and are not guaranteed. Seller participation in buyer-broker compensation is voluntary and negotiable. Actual rebate amounts depend on compensation actually obtained and received by the broker, the buyer representation agreement, purchase contract, escrow instructions, lender and loan-program requirements, underwriting, allowable closing costs and other transaction-specific factors. Any rebate will be handled through escrow in a manner permitted by applicable law and the transaction. No undisclosed payment will be made outside escrow.