08/13/2024
Starting August 17th, there’s an important change in the home-buying process that you should know about! 🏡 Realtors will now need a signed written agreement before showing you a property. Whether it’s exclusive or non-exclusive, this agreement is mandatory before we can even unlock the door for you.
For agents, failing to comply can result in hefty fines. 💰💰
A buyer's broker agreement legally binds you to a specific agent for a set period, outlines their compensation, and details their responsibilities to you. It’s important to understand that there's no "free service" when using a buyer's agent. Now, like sellers, buyers must formally hire their agent.
Given these changes, choosing an experienced agent with a proven track record is more important than ever. Just as sellers interview agents, buyers will now need to do the same. Not all buyer’s agents will offer the same value.
While sellers can still pay a buyer's agent commission (and this will likely happen in the majority of cases), it’s no longer listed in the MLS. Make sure you’re informed so you’re not surprised when your agent explains these new rules.
A skilled buyer's agent can provide invaluable services, helping you find and secure your dream home while protecting you from potential legal issues that could cost you thousands.
If you have any questions, feel free to reach out anytime!
Best regards,
Jon McLaughlin, Realtor | RE/MAX Results
952-212-2067
[email protected]