Understanding THE new real estate laws
There are a lot of misleading headlines and talking points out there, so here is what this new change means.
NAR settlement
The settlement includes a new rule that requires buyers to enter into written agreements with one agent.
The designated agent represents the buyer solely.
Things to know if you want to represent yourself and how it affects your real estate transaction
Buyers would still have the option to represent themselves if they did not want to commit to an exclusive agreement, much like sellers have the option to sell their property as a “for sale by owner.”
But if buyers are representing themselves, this could lead to delayed transactions, leaving repairs on the table, possible loss of escrow and extra work for listing agents and title companies.
Yes, an agent is worth their fee. Just like an attorney is worth their fee.
The whole reason the previous system existed is because Buyers got tired of being ripped off and not having anyone who knows what they’re doing look after their best interests. The key to that sentence is “knows what they’re doing”.
Not all agents are created equal and there are excellent agents and there are awful agents, which could possibly cost you.
A GOOD agent is easily worth their fee, but not everyone is going to see it that way.
Although our guidance is free our experience is priceless.
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