Written Buyer Agreements

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As of August 17, 2024, if you are working with a Realtor to find your new home you will be required to sign a written buyer agreement.  It is an agreement between you and your Realtor that describes what services will be provided to you and what they will be paid.  It is a national requirement and is part of the settlement concerning broker commissions.

The agreements are negotiable.  You and your Realtor will negotiate compensation and how long the agreement will last.  It must be signed prior to the Realtor showing you a home and the compensation must be clearly defined and not open ended.  It can be a flat fee, a percentage, or an hourly rate.  You do not need to sign an agreement if you are visiting an open house on your own or asking a Realtor about their services.

Although you are responsible for paying the fee as negotiated you can still negotiate, request, and receive compensation from the seller or their Realtor.

All information was obtained from the National Association of Realtors.

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