07/31/2024
Did you know that beginning August 17th, a realtor can no longer show you a property without a signed buyer's agency agreement? This means they cannot even unlock the door without this signed agreement. Doing so, and getting caught results in a 15k fine.
A buyer's agency agreement binds you to that particular agent for an agreed upon time frame and spells out how they are being compensated and what their duties are to you as a buyer client. There is no such thing a "free service" for using a buyer's agent.
Yes, sellers can still pay a buyer's agent commission. They have and always have had this choice. The difference is now, there is no longer a field in the MLS telling what the seller of that property is willing to compensate a buyer's agent. Now, when viewing properties, the buyer's agent must call the listing agent and find out this information. At that point the buyer's agent will communicate to you this information and you decide how to proceed.
Please educate yourselves so you aren't irate when an agent explains this to you. What a buyer's agent offers you is very valuable and conversations need to be had amongst you to fully understand it and embrace the plan to move forward to assist you fully in making one of the biggest investments of your life!
