08/20/2024
🛑 **It's Official** 🛑
TO MY FELLOW REALTORS PLEASE SHARE I ENCOURAGE IT.
As of August 17th, a Realtor CANNOT show you a home unless you have signed an agreement with them. This is Nationwide. 🧐
Starting August 17th a Realtor will not be able to tour a home without you first signing a Buyer Agency Agreement. This will be non negotiable for any real estate agent with a Realtor designation (one who agrees in advance to abide by the Code of Ethics). That agreement is your contract between you and your Realtor saying you will be hiring them to purchase a home and agree to the roles, duties and responsibilities owed to you by your agent and your duties to your agent. 🤝
Interviewing and coming to an agreement with the agent of your choice is an important decision and not one that should be forced upon you. Interview, and choose wisely. These agreements have been around for a long time. Agreements are and always have been negotiated, just like compensation. Remember, interview your Realtor, get referrals from your friends, and make your decision. 🤔
Purchasing a home is a HUGE step! You’ll want someone that will look out for your best interest, someone that knows the local market well, someone that understands the contracts and addenda, someone that can explain your contractual deadlines and someone that will answer your call or text! 🧠
A couple key points on the new changes:
- Seller's Agents can no longer openly advertise the commission that their seller is willing to pay in the MLS.
- Sellers can and in most cases still will pay the buyer agent commission.
- Sellers cannot pay more than what the buyer and their agent agree to in writing prior to showing homes.
- Should the seller choose not to pay the buyer's agent, the buyer is obligated to either pay their agent directly or choose a different house to purchase. Both of those options are completely negotiable and on the table.
- The length of the agreement and the specific terms within it are completely negotiable between the buyer and their buyer's agent so don't stress over being locked into some long and complex contract. Just have a great conversation with your buyer's agent and know exactly what you're signing before you start the home buying process!
I look forward to being your Real Estate Agent 😊
Heather Pool
Broker Associate
HomeSmart Connect
P: (630) 809-1109 /
O: (847) 495-5000
[email protected]
https://homesmart.com/real-estate-agent/illinois/stcharles/69130-heather-pool/Welcome
www.HomeSmartConnect.com
1003 W Main St, St. Charles, IL 60174 - (630) 809-1109
