August 17th: The Day Real Estate Will Change Forever

YOUTUBE
Major Real Estate Changes Coming!

Hey everyone,

Big changes are happening in the real estate world on August 17th, 2024. Here's what you need to know:

🏠 Key Changes to Real Estate:

• Commission Transparency: Buyer Agent commissions are being removed from the MLS. Neither agents nor the public will know if there’s any compensation for a Buyer Agent.

• Signed Forms Required: To tour a property privately with an agent, buyers will now need to sign a form. Open houses are an exception, but for private tours, this form is mandatory.

📋 Important Forms You Need to Know:

• Exclusive Buyer Agency Contract: This locks you in with a real estate agent for a set time and fee. Be prepared to commit to an agent before even viewing a home.

• Single Property Tour Form: Ideal if you’re not ready to commit to one agent. This form allows you to tour a specific property with a set fee, without long-term obligations.

• Non-Exclusive Buyer Agency Contract: Great for investors! Work with multiple agents at once, giving you flexibility in finding the best deals.

• Un-Represented Buyer Option: You can choose to go directly through the listing agent without representation. However, this means the agent is working for the seller, not you.

🧐 What This Means for You:

• Who You Work With Matters More Than Ever! 🕵️‍♂️
  It's crucial to have a knowledgeable agent on your side. With these new rules, choosing the right agent can make a significant difference in your buying or selling experience.

• New Strategies for Offers: As an agent, I’ll be writing my compensation into every offer, ensuring you get the best deal without added stress.

💡 Pro Tips:

• Be Prepared: Contact a real estate agent or lender early in your home search process. This will save you time and ensure you're ready to act when you find the right property.

• Understand Seller Concessions: If compensation becomes a sticking point, there are ways to navigate it, such as seller concessions, where the seller assists in covering costs.

If you have any questions or want to discuss how these changes might impact you, feel free to reach out! I'm here to guide you through these new processes and ensure you make the best decisions for your home-buying or selling journey.

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Hey there 👋 I'm Mike, an award-winning Realtor here in Boston, Massachusetts with a successful track record of selling hundreds of homes over the last eight years. My professional background extends beyond real estate sales, encompassing over a decade of experience as an electrician. I lead a team of over 90 agents throughout multiple states, each dedicated to providing exceptional service.

Through this newsletter, we aim to equip you with insightful information, enabling informed, data-driven decisions for buying or selling properties. So if you’re looking to stay up to date on the market and prevent EXPENSIVE mistakes most people make, reach out!
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