08/01/2024
ATTTENTION HOMEBUYERS:
On August 17th a Realtor CANNOT show you a home unless you have a signed agreement with them; unless you request a showing through the listing agent.
Prior to August 17, 2024, it’s not a problem and we can zip over, show it to you and be done, however, starting August 17th no Realtor will be able to unlock a door for you (show you any property) without you first signing an Agreement. This will be non negotiable for any person with a Realtor designation.
There will be two types of forms you can choose from. The usual form between Buyer and Realtor is a Buyers Representation Agreement, which includes agency representation however now you will have the option to sign that form or just a form for showing you property. Either one of these written agreements to show a property will suffice. A Buyers Representation Agreement is a contract between you and that Realtor saying you are their client, you will be using only them to buy a home and breaking down the roles, duties and responsibilities owed from you and to you by your agent, which includes loyalty to you, their client. It will also explain your responsibility for paying the agent compensation that you choose to work with. A Showing Agreement does not establish an agency Agreement. It is basically an Agreement to show you the property and establish the compensation you will owe to the Realtor showing you the property. This has not been a requirement in the past, it was optional. However, as of August 17, 2024 we are being required to do this.
The good news is that if you are not ready to commit to one Realtor, together we get to decide when it expires, so although you may have to sign one of the Agreements, if you’re not ready yet to fully commit to a Realtor, you can always request an Agreement that expires in a day, a week, a month, etc.
And, please don’t yell at your local Realtors if they want you to sign something before showing you a property. We don’t have a choice in this matter.
If you have a Realtor that does not ask you to sign anything to see a property "buyer beware" as this will be the requirement unless you are looking at the house with the listing agent.
REALTORS OR ANYONE PLEASE SHARE! 😊
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