IMPORTANT UPDATE: Home Buying Rules Are Changing! Please Read! 👇
Starting August 17th, the process of buying a home is getting a major update. From that date, realtors won't be able to show you any properties unless you’ve signed an agreement. Whether it’s exclusive or non-exclusive, the agreement must be signed before they can even open the door for you. 😳
What You Need to Know:
🔹 Potential Penalties: Agents could face significant fines if they show properties without this signed agreement. 💸
🔹 Commitment to Your Agent: A buyer’s agency agreement formally commits you to working with a specific agent for a certain period. It clearly outlines their compensation and what they’re obligated to do for you.
🔹 No More “Free” Services: There’s no such thing as a “free service” when working with a buyer’s agent. Just like sellers, buyers now need to officially hire their agent.
How This Affects You:
🔹 Choose the Right Agent: Now more than ever, it’s important to work with an agent who has extensive experience. Our team brings decades of combined experience to the table, giving you the confidence that we’ve seen it all. Sellers typically interview agents, and now buyers should too. Not all buyer’s agents offer the same level of expertise and service.
🔹 Commission: Sellers can still cover a buyer's agent’s commission, and in most cases (95-99%), they probably will—if the offer is reasonable. However, this will no longer be displayed in the MLS.
🔹 Stay Informed: Make sure you understand these changes so you’re prepared when an agent explains them to you. A skilled buyer’s agent can help you find and secure your dream home and protect you from potential legal pitfalls that could cost you thousands.
If you have any questions, don’t hesitate to reach out! We are here to guide you through every step of the process!
☎️ Tyler: 218-308-1230
☎️ Steve: 218-766-9126
☎️ Jolene: 218-556-0418
☎️ Steph: 218-766-6214