08/16/2024
*** LISTEN UP FOR YOU PLEASE WHO LOOK ON ZILLOW!!!!!!! And to all future and current buyers in the market (specifically Alabama) I have chosen to be very quiet publicly on the āreal estate agentā changes. **** I will now share just a few FACTS ON THIS!
So⦠this is my first public consumer facing comment about the changes that ARE NOW IN effect and I am only going to address buyers for the moment.
LISTEN UP FOR YOU PLEASE WHO LOOK ON ZILLOW!!!!!!!
~if you call an agent and ask them to show you a home, our rules (per settlement agreement in the Sitzer-Burnett litigation) require that no agent can show any house (except their own listing) without requiring a buyer to sign a buyerās agency agreement (or a transaction broker agreement) and a RECAD (which has always been actual State of AL law not just a new rule and is required to show their own listing)
~ unless an agent BREAKS THE RULES and behaves out of bounds, you cannot call another agent who āwonāt make you signā.
~what does this mean for you?
#1~ remember why you need a buyers agent. In our state, we are the only true caveat emptor state (no seller disclosure is required by law). All due diligence falls to the buyer for any and everything. You absolutely need someone to guide you. The risks are there in a big way because there is not āoh letās sue the seller for non disclosureā to fall back on. There are nuances to caveat emptor that I can explain directly if you want to message me but thatās the scope of it.
#2~ getting someone to open a door for you without a signature and most likely preapproval or proof of funds has now become NOT an option. (Btw it never should have been an option)
#3 ~ now more than ever a great relationship with your favorite realtor is critical!
Happy house hunting to our future buyers and agents. As always Iām available to help with any questions you may have.
Also- thanks to Jennifer Reeder-Toomer Hay for providing a great format to share my thoughts!