BUYER REPRESENTATION AGREEMENT REQUIRED

As of August 2024, the law changed requiring Realtors to have a signed buyer representation agreement before they can show homes that are listed on the market to their clients. The exception to the rule is an Open House or the listing agent of the home shows you the home as a customer, not a client, while still representing the homeowner's best interests. 

In the case above, you are unrepresented, likely underinformed, and must approach individual listing agents of each home you'd like to see - not very efficient. More importantly, you are not getting professional advice regarding the current state of the market, a professional market analysis of the home, advice regarding offer and term strategies and the steps that need to be taken moving forward, also acting within a specific contractual timeline. This is a needless disaster just waiting to happen when you can have a Realtor working for you with their compensation being covered by the seller if you structure the transaction properly. 

THERE ARE ONE OF THREE WAYS THAT WE ARE COMPENSATED FOR OUR WORK:

1. (Most likely scenario) The seller will offer to compensate us up front. In this case, there's nothing more to consider. This is more or less how it worked before the law change except that it was published on the listing. 
2. (Less likely scenario but not uncommon) The seller does not offer compensation and we will need to REQUEST our compensation with the offer. 
3. (Highly unlikely scenario) The seller refuses to pay a buyer agent's compensation and therefore it would need to be covered by you, the buyer. However, before any offer is made to a seller, this will be taken into account and an adjustment will be made so your bottom line remains the same. 

In my experience, having the RIGHT agent representing you is the difference between only FINDING the house you want and actually GETTING the house you want.