Buy A Home
Buying a home is one of the largest financial transactions most people will ever undertake. Agents who are REALTORS® are a trusted source of advice and stand ready to help you navigate your homebuying journey and make the choices that work best for you. The National Association of REALTOR’s recent settlement has led to several changes that benefit homebuyers, and we wanted to clearly lay them out for you.
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Here is what the settlement means for homebuyers:
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You will sign a written agreement with your agent before touring a home.
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Before signing this agreement, you should ensure it reflects the terms you have negotiated with your agent and that you understand exactly what services and value will be provided, and for how much.
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Our agents are REALTORS® are here to help you navigate the homebuying process and are ethically obligated to work in your best interest.
Compensation for your agent remains fully negotiable, and our agents must abide by the REALTOR® Code of Ethics and have clear and transparent discussions with you about compensation. Please ask questions about compensation and understand what services you are receiving.
You have choices. Work with your agent to understand the full range of these choices when buying a home, which will help you make the best possible decision for your needs.
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Written agreements apply to both in-person and live virtual home tours.
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You do not need a written agreement if you are just speaking to an agent at an open house or asking them about their services.
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The seller may agree to offer compensation to your agent. This practice is permitted but the offer cannot be shared on a Multiple Listing Service (MLS)— MLSs are local marketplaces used by both buyer brokers and listing brokers to share information about properties for sale.
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You can still accept concessions from the seller, such as offers to pay your closing costs.