Navigating Big Changes in Real Estate: What You Need to Know

"Sometimes good things fall apart so better things can fall together." - Marilyn Monroe

As of August 17, 2024, significant changes have transformed the real estate landscape. If you're planning to buy or sell property, here's what you need to know to stay ahead in this evolving market.

Before You House Hunt:

To tour properties, you must now have a signed agreement with a real estate broker. This means no more casual house tours without commitment. Brokers face substantial fines if they show properties without this signed contract in place.

Understanding Your Buyer's Broker Agreement:

This agreement is a binding contract detailing the services your broker will provide and how they will be compensated. Remember, broker services have never been "free"; understanding this contract is crucial to your buying journey.

Experience Counts:

Choosing a broker is more important than ever. Opt for someone seasoned, as experience makes a significant difference. Not all brokers offer the same level of expertise and knowledge.

Seller's Commission:

While sellers may still cover the buyer's broker's commission, this will no longer be advertised on the MLS. However, it may still appear on individual websites. Sellers are likely to continue paying a portion, if not all, of these commissions.

The Waters Group with Town and Country Real Estate:

Our team is here to guide you through these changes, ensuring open communication every step of the way. We're committed to helping you navigate this new process with ease.

Why This Matters:

These changes mark a pivotal shift in how real estate transactions are conducted. A knowledgeable broker becomes your most valuable ally in this new market environment.

The Future of Real Estate:

We're entering an era promising greater transparency and stronger negotiation practices. If you have questions or wish to discuss these changes, don't hesitate to reach out. Let's ensure you're informed and confident as you move forward.

Having served as a real estate broker for over 18 years, I am dedicated to adapting and looking out for my clients' best interests. I am here to help you navigate these changes smoothly. For appointments during the week of August 26th, please call or text me at 575-693-9074. Let's meet over coffee to discuss any real estate needs you have, whether buying, selling, or investing, and how these changes could impact you.