08/18/2024
🚨Trigger Warning🚨 Can I vent for a second?
This new NAR law that requires buyers to sign a buyers agency agreement before even seeing one house has many layers to it. First let’s highlight the post this caption is attached to 👀(click the image to expand it). I’m beyond disgusted by some of the people in my profession who see people as 💵 or as objects.
All realtors are not the same, please do your research on who you have representing you. When you talk to them do they have commission breath? Will they say anything just to make a dollar? Does your gut make you double guess working with them?
Listen now more than ever ignorance has a cost. Interview every professional you work with in the process. Trust but verify all information you get throughout the process. Ask for resources and multiple recommendations. If your agent gets frustrated when you ask a million questions? If so they are not the agent for you.
These agreements you sign can be daily, weekly, monthly, for the year, per property, it can even be limited by the area, city or block radius.
1. Commissions can be paid completely by the seller
2. Completely by the buyer
3. Partly by the buyer and seller
4. Written in to your offer as a condition of your offer (I.e. my offer of $450,000 is contingent on the seller paying my buyer agents fee)
5. Written in as a concession (which is seen as financing it into your mortgage.
🚨Some agents may take a retainer fee (my office will never but that is what the new ruling allows)
🚨Charge per door that they open (Again not something that my office will engage in, but it is one the things that are within these new agreements as an option)
🚨Any fees paid out must be credited to your agreed upon commission agreement amount.
🚨Regardless what you agree to with your agent never write a check or give cash to an agent. All monies given must be paid to the real estate agents office. To many people get scammed so please stay alert.
I know what you may be asking yourself. Why would I go through all this hassle in even getting an agent if now I have to pay for it? Buying a house is already to expensive why should I have a buyers agent?
🔹You are not required to have an agent. However 95% of sellers with their properties online have an agent representing them. Their fiduciary responsibility is to get their seller the most amount of money, in the shortest amount of time, with the best possible terms. If the seller has someone fighting and protecting their interest don’t you deserve the same protection and guidance?
🔹 What might happen if you try to navigate the buying process without professional guidance and overlook critical details that could cost you thousands in the long run?
🔹 How would you feel if you ended up overpaying for a home because you didn’t have an experienced negotiator on your side?
Regardless of what you agree to with your agent, set proper and clear expectations of what you expect as far as customer service for the fee you are willing to pay.
I know this is a lot to take in and understand. It’s important to be informed and learn deferment. In the Bible it says if you’re going to get anything, get an understanding.
Seeing 👀this post set me off. So when Ariel Harmon wrote her last post it struck a cord in me because we need to protect people from this type of mindset. Yet Facebook wouldn’t allow me to reply back to him with the truth. 🤦🏽 yet they allowed him to post this.
