08/15/2024
🏡Real Estate Update🏡:
Attention home buyers and sellers. Changes are on the horizon—August 17th will be here before we know it.
🚨PLEASE read the information below carefully and ask any questions you may have. And don’t forget to be kind to your Realtor—this is new for us too!
🏡 ATTENTION HOME BUYERS 🏡
Starting August 17th, all home buyers must sign a "Buyer Representation Agreement" before viewing any properties.
✅ JUST SHOW ME THE HOUSE!!
From August 17th, Realtors won’t be able to unlock a door without first getting you to sign this agreement 🤯 This is non-negotiable for all Realtors.
✅ Wait…WHAT DO I HAVE TO SIGN??
The Buyer Representation Agreement is a contract between you and your Realtor, specifying the roles, duties, and responsibilities your agent has to you. It also outlines the broker commission, which could be paid by you and/or the seller. The commission in the agreement is the MAXIMUM your broker/agent can receive from the transaction.
✅ I HAVE TO PAY COMMISSION?
Maybe, but maybe not… 🤔
With the new NAR ruling, MLS will no longer list cooperating broker and buyer broker commissions. This means your agent may not know if they’ll be compensated when showing you a home. Commissions are always negotiable and can be paid by the seller or through buyer concessions. In some cases, buyers may need to pay the commission out of pocket, as detailed in the buyer's representation agreement.
✅ HIRE A PROFESSIONAL AGENT
Choosing a professional agent is more important than ever‼️
August 17th is approaching fast, and the real estate landscape is about to change. The new buyer representation agreement is just one facet of the NAR ruling that will transform how homes are bought and sold in the U.S.
Feel free to reach out to me with any questions or concerns! 📲 📩
Emma Shaw, REALTOR™️
Iron Valley Real Estate of Central PA Carlisle
2260 Spring Road Suite 1
Carlisle, PA 17013
Office: 717-344-5950
Cell: 724-421-9078
