New Rules for Home Buyers – What to Know About the Buyer Representation Agreement | Evan Glasco
Understanding the Mandatory Buyer Representation Agreement
As of August 17, 2024, home buyers must sign a Buyer Representation Agreement before viewing any residential property. This nationwide change affects every REALTOR® and their clients, so it’s essential to understand how it impacts you.
Let’s break down what this means, why it’s happening, and how it affects your home search.
What Is the Buyer Representation Agreement?
The Buyer Representation Agreement is a formal contract between you (the buyer) and me (your REALTOR®). It clarifies:
✔ Our professional relationship – How I will assist you throughout the buying process.
✔ My responsibilities to you – Including property tours, market research, and contract negotiations.
✔ Compensation terms – How my commission is handled in your transaction.
This agreement must be signed before touring homes, ensuring transparency and legal protection for both parties.
Do Buyers Have to Pay Realtor Commissions Now?
The agreement states that buyers are responsible for their agent’s commission, but that doesn’t mean you’ll always pay out of pocket.
Here’s why:
✔ Sellers or listing brokers may still cover the commission – It depends on the transaction.
✔ Commission negotiations can be structured in different ways – I’ll guide you through this.
✔ Each deal is unique – Let’s discuss your options and find the best solution.
If you have questions about how this applies to your situation, reach out—I’ll break it down for you.
Why Is This Change Happening?
Previously, the seller’s listing broker would pay the buyer’s agent commission, leading to misunderstandings about who was paying whom. A class-action lawsuit challenged this practice, resulting in a legal settlement that now requires:
✔ No guaranteed buyer agent commission in MLS listings
✔ Commission agreements to be made directly between buyers and their agents
✔ Greater transparency in real estate transactions
This ensures that buyers know exactly what they’re paying for and how their agent is compensated.
Can I Change My Agent If I Sign an Agreement?
Yes! The Buyer Representation Agreement offers flexibility:
✔ You can cancel anytime – The agreement allows for termination if needed.
✔ It only lasts a maximum of 3 months – You can adjust the length if preferred.
✔ You can limit it to certain properties or locations – For example, use one agent for homes and another for land purchases.
I want you to feel comfortable and confident working with me. If we’re not the right fit, you have options.
Why Choosing the Right REALTOR® Matters More Than Ever
With this new rule, it’s more important than ever to work with a knowledgeable, experienced agent who can:
✔ Advocate for you in negotiations and ensure you get the best deal.
✔ Help you navigate commission discussions to minimize out-of-pocket costs.
✔ Provide clear communication so you feel confident every step of the way.
I’ve studied these changes inside and out—I’m ready to guide you through this process with honesty, transparency, and expertise.
Let’s Navigate This Together
I know this is a big change, and I want to make sure you feel informed and empowered when buying a home.
📞 Have questions? Let’s talk! I’ll break it down for you and make sure you understand your options.
🏡 Thinking about buying? Let’s find your perfect home—while making this process work for you.
👉 Call or text me today!
Evan Glasco
📍 Realtor® | Lic# 02209690 | Coldwell Banker Grass Roots Realty
🏡 Nevada County Real Estate Specialist
📞 530-635-2521
📧 EvanSellsRealEstate@gmail.com
🌐 www.EvanSellsRealEstate.com
📢 "I'm more than just a Realtor—I'm here to guide you home."
🔹 Top 10% of Agents in California | Masters Club Member
🔹 Helping Buyers, Sellers & Investors Navigate the Market
🔹 Local Expertise | Negotiation Power | Personalized Service
