08/16/2024
The real estate industry is always changing and growing! Starting tomorrow, August 17th, new changes in how we interact with our buyers are coming. We are always here to answer any questions. Please read below for the changes that start tomorrow. As always, we love and appreciate our amazing clients!!
๐จ๐น๐๐๐๐๐๐๐๐๐๐๐๐๐ ๐ผ๐๐
๐๐๐ ๐๐๐ ๐ฉ๐๐๐๐๐ & ๐บ๐๐๐๐๐๐!๐จ
Starting tomorrow, August 17th, 2024 in Ohio (already in effect in KY, IN, and TN), here are a couple of key changes about buyer agency representation:
1๏ธโฃ ๐ช๐ฟ๐ถ๐๐๐ฒ๐ป ๐๐ด๐ฟ๐ฒ๐ฒ๐บ๐ฒ๐ป๐ ๐๐ฒ๐ณ๐ผ๐ฟ๐ฒ ๐ฆ๐ต๐ผ๐๐ถ๐ป๐ด๐
BUYERS: Before we view any properties, weโll need to sign a โConsumer Guide to Agency Relationshipsโ and a "Buyer Representation Agreement." The latter is a legally binding contract that outlines our responsibilities to you as well as how weโll be compensated. This is now a must for buyers before entering any home with us or any REALTORยฎ. ๐
SELLERS: Our discussion about commission for the buyerโs broker will help strategically position your home for success in the market, as reflected in the Exclusive Right to Sell Listing Agreement.
2๏ธโฃ ๐๐ผ๐บ๐บ๐ถ๐๐๐ถ๐ผ๐ป ๐ฃ๐ฎ๐๐บ๐ฒ๐ป๐๐
In the past, the seller usually covered the commission for the buyerโs agent. While many listings may still include an offer of compensation for the buyer agent, some listings may not. This means weโll need to discuss how our commission is coveredโeither by the seller, through concessions, or by the buyer. ๐ฌ
But rest assured, we'll guide you through these discussions to get the best possible outcome for you. The compensation that is on this agreement is the ๐ข๐๐ญ๐๐ข๐ช๐ข compensation the broker can receive.
3๏ธโฃ ๐๐ต๐ผ๐ผ๐๐ถ๐ป๐ด ๐๐ต๐ฒ ๐ฅ๐ถ๐ด๐ต๐ ๐๐ด๐ฒ๐ป๐
These changes are meant to make things transparent and fair for everyone involved. As always, our commitment to guiding you through your real estate journey with integrity and excellence remains the same.๐
Weโre here to answer any questions you may have, and happy to provide resources and documents for your review. Navigating these updates together will ensure a successful and stress-free experience.
If youโre planning to buy or sell, please reach outโweโre here to help! ๐ก๐ผ