08/02/2024
Have you heard? See my post about this important information (see below)
Starting next week on Aug 6, ® in the area (by Aug. 17th, nationwide) will need to have a signed buyer agency agreement in place before showing a home to a prospective buyer, unless that REALTOR® is representing the seller in the transaction.
Why? This is to add protection and transparency to the transaction. The buyer agency agreement lays out the terms, duties and expected compensation for working with your REALTOR®.
Some things REALTORS® do to earn their compensation as a buyer's agent:
1. Qualify the buyer - make sure the either have the funds for a cash purchase or have been vetted with a lender to be able to qualify for a mortgage for the given price range.
2. Help identify potential properties that fit the buyer's needs and wants.
3. Set up property search(es) to help find matching properties
4. Review search results to help narrow the potential list.
5. Arrange for showings of those properties.
6. Review seller's disclosures on those properties
7. Review flood plain information on selected properties
8. Search for legal documentation for selected properties (deeds, easements, recorded deed restrictions and covenants, plat maps and surveys, tax records)
9. Search state maintained ...
This list is about 1/12 of the actions a purchase transaction requires. Most transactions require somewhere between 80-120 hours of work by a REALTOR®.
REALTORS® are trained professionals. We help people navigate what will probably be the largest financial and asset transactions they will do in their lives. This is why you want representation. This is why you want the Full Strength Realty Team guiding you.
