We know many of you keep hearing about the Real Estate Post-Settlement Changes and you may even know that the big day took place last Saturday August 17th. We would love to help break this down and bring some clarity for you. What do you need to know?
01 Buyer Representation Agreement
In order to tour a home, you now need a written agreement between you as a potential buyer and the agent who is showing you the home. This is not a new form and one that we use daily. There are options for specific touring agreements but we continue to know that a Buyer Representation Agreement remains the best way to set up a client relationship ensuring you as the buyer receive the highest level of service and care.
02 Shared Compensation Change
Shared compensation will no longer be advertised on MLS. This doesn’t mean sellers won’t still be offering it. We are seeing many sellers still willing to pay compensation to a buyer’s agent with a received offer. This allows buyers to continue to have full representation without having to come out of pocket for compensation. In the event that a seller is not out right offering or marketing a shared compensation, compensation can still be negotiated in an offer of purchase to the seller.
03 We’re Here to Help
We have spent over a year preparing, listening and learning to make sure we are fully equipped to help both our buyers and sellers navigate market changes. We know at the end of the day if a seller wants to sell and a buyer wants to buy, we can help get you to the closing table smoothly!