New Real Estate Rules: what buyers and sellers need to know

 New real estate rules: what buyers and sellers need to know

The experience of buying or selling a home will soon be different than it was in the past. A recent National Association of REALTORS® class action settlement agreement has laid out new rules that will change how brokers and agents are paid. “The buyer and seller [will be] looped into the transaction more so we’re able to be more transparent with them about compensation,” said Barbara Clemons, president of the Bay East Association of REALTORS. “There will be more forms for the buyer and seller to fill out.” 

That will be apparent when visiting an open house – buyers will be asked to sign forms and if they don’t have an agent representing them, they might not be able to get additional information about a property without an agent. Buyers will have to negotiate how much they are willing to pay the broker representing them. But sellers could incentivize a sale by offering to pay all or a portion of the buyer’s agent’s commission. 

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Francis

Silicon Valley real estate
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