LAW ~ Significant Buyer/Seller Change Notice

As of August 1st, 2024, significant new real estate changes will take effect. It is crucial for Buyers and Sellers to fully understand these changes.

1. **Disclosure of Commission Rates:** Buyer's agents must now clearly disclose commission rates and sign agreements with clients before showing any properties.

2. **Seller's Commission Decisions:** Sellers can now decide if and how much they will pay a buyer’s agent commission. While this has always been possible, many may not have been aware. These changes could reduce sellers' costs, potentially increasing costs for buyers. The implications are significant and warrant a discussion to understand how they may affect your sale or purchase.

3. **Representation Clarity:** Seller's agents represent the seller, not the buyer. Allowing a dual agent introduces many potential issues. To ensure your protection, we should discuss all available options.

4. **Impact of Changes:** While these changes aim to improve transparency and fairness, their full impact remains to be seen. Some sellers may try to save money but suffer consequences, and buyers who go it alone might end up paying more than necessary. It is essential to understand the new situation regardless of your position in a transaction.

If you’re considering selling, now is the perfect time to start planning. Summer will be over before we know it, and preparing your home for a successful sale requires detailed planning and timing. If you are interested in learning more about these important changes, please let me know and I will be happy to elaborate.

In today’s competitive market, ensuring your home is impeccably staged, your photographs are of magazine quality, and most importantly, that your listing is live when buyers are most active, is crucial. Timing is everything.

I am now accepting new listings for the Fall/Winter Season, aiming to have properties hit the market by mid-November, when buyer activity picks up again. Days on Market is extremely important to the success of the sale.