"To start, break it down simply: 1. Written agreements are required. Buyers must clearly understand that, before you show them any homes, they will have to sign a buyer agency agreement. Explain that this agreement simply clarifies your role as their advocate and spells out your responsibilities, as well as how you get paid. 2. Compensation is no longer assumed."
"Transparency is the new standard. Transparency is always a good thing, so position this as a positive. Buyers now know up front what services you provide and how you're compensated. This new standard lines up with the way attorneys, financial advisors, and other professional service providershandle communicating their compensation. Taking time to break down and explain the new rules shows the buyer your commitment to acting in their best interest throughout this process."
"Some buyers may think agents just unlock doors or send listings. As real estate agents, we know there is so much more to what we provide. Show them the bigger picture by highlighting your role as their: Guide: Identifying homes that fit their needs, many of which they can't easily find online. Analyst: Providing market insights, which help determine what a home is worth, so they don't overpay. Negotiator: Crafting offers and counteroffers to help them get t"
Buyers must sign a written buyer agency agreement before agents show homes, clarifying the agent's advocacy, responsibilities, and payment. Compensation from sellers is no longer assumed, so the agreement must state exactly how the agent will be paid. Increased transparency requires upfront disclosure of services and compensation, aligning real estate with other professional services. Agents should explain these changes positively to reassure buyers and demonstrate commitment to their best interests. Agents should also present their full value by acting as guides, market analysts, and negotiators to help buyers find appropriate homes, evaluate value, and craft effective offers.
Read at www.housingwire.com
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