08/10/2024
🚨🚨🚨Important Information 🚨🚨🚨
~ Read below!
**New Real Estate Guidelines Starting August 17th, 2024** ⬇️
Exciting changes are coming to real estate transactions, impacting both buyers and sellers. Here’s what you need to know: 💭🤌🏻
**For Buyers:** 🙋🏻♀️
• **Contract Requirement:**
Starting August 17th, you'll need to sign a written agreement with a single real estate agent before you can tour homes. This contract binds you to work exclusively with that agent, ensuring dedicated service throughout your home search. Without this contract and your preapproval/proof of funds, you won't be able to view any properties.
• **Paying Commission:**
Buyers will now be responsible for covering the agent’s commission if the seller doesn’t offer compensation for your buyer’s agent. If the seller offers only a partial commission, you'll need to cover the difference. For example, if a seller offers 2% commission and your agent’s fee is 3%, you would be responsible for paying the additional 1%. In cases where no commission is offered by the seller, you'll need to negotiate and cover your agent's fees.
**For Sellers:** 🙋🏻♀️
• **Commission Decisions:**
You now have the flexibility to decide whether to offer a commission to the buyer’s agent. If you choose not to, it may affect the attractiveness of your property to potential buyers working with agents, possibly leading to fewer offers or a longer time on the market.
• **Agent’s Role:** 👩🏻💼
Partnering with a knowledgeable agent is more important than ever. An experienced agent, like myself, can guide you through the implications of these new rules, helping you make informed decisions about offering commissions and navigating negotiations.
These changes mark a significant shift in the real estate industry. 🏡To understand how they may affect you and to get answers to any questions, contact your local realtor! I'm here to help you stay informed and make the most of these new opportunities! ☝🏻🩵
• Zadie Andrews, Realtor®️
• (432)-816-0415
• Legacy Real Estate
