You may have heard about recent updates to the homebuying and selling process. These changes, went into effect August 17, 2024, are focused on providing a clear, transparent real estate process. Because there is a lot of misinformation being shared about the updates and broker compensation, I want to make sure you have accurate information that may be important to your real estate journey.
Here are the main takeaways:
To ensure buyers understand and agree on compensation before beginning the homebuying process, brokers will
now require a written representation agreement before touring homes.
- These forms are carefully written to provide buyers with information and options to define the services they want and clearly spell out compensation details, such as the amount or rate of payment.
- Compensation offers for buyer’s brokers will no longer be published in the multiple listing service (MLS). Offers of compensation will continue to be an option buyers can pursue off-MLS through negotiation and consultation with their real estate professionals.
- You will continue to be guided by the skill, care, and diligence I bring as a REALTOR® in what may be the largest transaction of your life. From helping you navigate a maze of complex paperwork to coordinating inspections and negotiating the best deal, I’m here for you every step of the way.
To learn more about these changes, contact me at 281-468-5145.