08/17/2024
Beginning tomorrow, Aug 17, all potential buyers must sign a BBSA (Buyer Broker Service Agreement) PRIOR to viewing a home. This document explains our duties as your Realtor & how we’re paid. A few things to remember:
1. This is required by the National Association of Realtors
2. Potential buyer & Realtor decide together the duration of the agreement (1 day, 1 week, 1 month, etc).
3. Open houses are exempt. You’re welcome to tour any open house without signing an agreement. But if you love the property & want to make an offer, a BBSA will be required by the agent writing the offer for you, if you don’t already have one in place.
4. Listing agents are allowed to show their listed property to potential buyers without the BBSA. But please be aware, if you have a previously signed BBSA please contact that agent for all showings. If you do not have a signed BBSA & call the listing agent to show you the property, a BBSA must be signed when writing an offer.
My advice to all buyers- do your research, hire a Realtor that you trust & know will advocate for YOU in a transaction. This BBSA is a contract saying you are hiring that agent & their brokerage to represent you in the process of potentially buying a house. This contract protects you & the agent. It also creates more transparency for all parties as to the expectations of the home buying process.
There will be a few hiccups & slow downs in our industry over the next month or so while we are all getting used to this new way of showing properties, but please bear with us. We don’t want to be fined for not following the rules.
For any questions feel free to call or text me anytime! I’d love to chat with you!
