08/12/2024
In case you haven’t heard — home buying has changed!! 🏡
Did you know that starting August 17th a REALTOR can NO longer show you a property without a signed written agreement? It can be exclusive or non-exclusive but it MUST be SIGNED. This means they can’t even unlock the door 😳 without it.
Doing so as an agent can results in a thousands of dollars in fines. 💰💰💰💰💰
A buyer's agency agreement legally binds you to that particular agent for an agreed-upon timeframe, spells out their compensation, and details their duties to you, and in all transparency, the agent can fire you as well as you may fire your agent (that’s always been the case FYI).
There is no such thing as a "free service" for using a buyer's agent. In MN, the listing agent has always been hired by the seller and that listing agent has opted to share commissions to a Buyer Agent. That has always been our most successful model and we expect that to continue 🙂
Sellers always interview agents, and now, so will buyers. Not all buyer’s agents will be offering the same values.
Yes, sellers can still agree to pay a buyer's agent commission (and I expect that to still happen a majority of the time if the offer is realistic) but the buyer compensation % offered is no longer listed in the MLS.
Educate yourselves so you aren’t caught off-guard when an agent explains this to you. A GOOD buyer's agent can offer incredible and valuable services that may lead to finding & winning your dream home and protect you from legal issues that can cost you thousands.
I’m here for your questions!
Cre Maynor, Realtor
Copied from (in part) another fabulous agent out there.
