08/14/2024
Important Update for Home Buyers: The Game Has Changed!
Starting August 17th (This Saturday), the home-buying process is undergoing a significant change.
As of this date, I can no longer show you a property unless you've signed a buyer's agency agreement. Whether it's exclusive or non-exclusive, this document is now mandatory - no signature, no door will be unlocked.
The penalties for not following this rule are steep, with fines running into the thousands.
So, what does this mean for you?
A buyer's agency agreement legally binds you to work with me, Ruth Vogel of RE/MAX CHOICE as your buyer's agent for a set period of time. It outlines my compensation that is paid to my Brokerage and the services I will provide to you. Keep in mind, there is no longer any such thing as a "free service" when using a buyer's agent. Just like sellers, buyers now need to formally hire their agent.
This change makes choosing the right agent more important than ever. Just as sellers have always interviewed agents, now it's time for buyers to do the same. My experience and commitment to your best interests are crucial, especially with these new rules that are being placed into law.
YES, sellers can still offer to pay a buyer's agent's commission, but this information is no longer automatically published in the MLS. I'll need to contact the listing agent to confirm if and how much the seller is willing to compensate, and then communicate that to you so you can make an informed decision, as a buyer looking to purchase a property.
I've always operated with transparency. I've always explained to buyers the process of buying a home and all the components of making a purchase. My clients hire me for my knowledge, experience, integrity, and dedication.
Think of it this way: you wouldn't expect another professional such as an electrician or plumber to work for free -- their time is valuable just like my time is valuable. A buyer's agent can provide crucial services and transactional knowledge protecting you from legal pitfalls that could cost you thousands.
If you have any questions or want to discuss how this change impacts you on your home-buying journey, don't hesitate to reach out. Let's talk! Your REALTOR - Ruth Vogel
