Real Estate Rule Changes: What you should know

This past month there were some monumental rule changes implemented in the residential real estate industry.

Below is a summary of 3 key changes.

1- You will need to sign formal paperwork BEFORE seeing any home with a realtor.

In the past, most if not all paperwork was signed at the time of the offer, not the time of the showing.

2- The seller of a home cannot advertise what compensation they're offering to the buyer broker.

Previously, what the seller was offering as a commission to the buyer broker was advertised on the mls and online. In order to prevent steering a home buyer to one listing vs another, compensation can no longer be advertised anywhere.

3- The seller of a home has a few different options of how they can pay a commission

A- pay their agent (seller agent) and the buyer agent

B- pay their agent only (buyer would have to pay their agent out of pocket)

C- pay their agent and let the buyer agent negotiate their commission into the offer

Any q's on this DM me. I know the ins and outs of the new rules.... what works and doesn't work.