08/14/2024
Changes are coming on August 17. A buyer can’t just call and see a home anymore without signing a buyers agreement. It’s not the agents choice and pertains to each and every licensed realtor.
Please read below and if you have any questions call me at 614-314-1931. I am here to serve all your real estate needs and wants in and around the Columbus Ohio housing market. 😎
Every day ATTENTION HOME BUYERS
Starting August 17th, every home buyer will need to sign a "Buyer Representation Agreement" before stepping foot in any property.
✅ JUST SHOW ME THE HOUSE!!
From August 17th, no Realtor will be able to unlock a door without you signing the agreement first 🤯 This rule is non-negotiable for all licensed Realtors.
✅ Wait…WHAT DO I HAVE TO SIGN??
The Buyer Representation Agreement is a contract between you and your Realtor, outlining the roles, duties, and responsibilities your agent owes you. It also details the broker commission, which may be paid by you and/or the seller. The commission stated in the agreement is the MAXIMUM your broker/agent can receive.
✅ I HAVE TO PAY COMMISSION?
Possibly, but not necessarily… 🤔
With the new NAR ruling, MLS listings will no longer show cooperating broker and buyer broker commissions. This means your agent may not know how they’ll be compensated when showing you a home. Commissions are negotiable and can be covered by the seller or through buyer concessions. In some cases, buyers will need to pay the commission out of pocket, as outlined in the buyer's representation agreement.
✅ HIRE A PROFESSIONAL AGENT
Selecting the right agent is key, especially with these changes coming up.
August 17th will bring significant shifts in the real estate market, and this new buyer representation agreement is just one part of the NAR ruling that will reshape how homes are bought and sold in the U.S. 🇺🇸
✅ ALIGNMENT & COMMUNICATION
Now more than ever, it’s crucial to work with an experienced professional Realtor to navigate these changes effectively.
