Preamble Adapting to the New R o the New Real Estat eal Estate Rules as a Homebuyer Real estate has always been an evolving industry, and in 2024, one of the most significant shifts in years has occurred. As of August 17, 2024, buyers are now required to compensate their own agents directly—something that was previously covered by the seller in most cases. This change has created new challenges for buyers, but it’s important to remember: challenges also create opportunities. If you’re feeling concerned about these changes, you’re not alone. Many buyers are navigating this new landscape for the first time, but with the right strategy and guidance, it doesn’t have to be overwhelming. My goal in this chapter is to help you understand what these changes mean for you and how to approach the home-buying process with confidence. What Has Changed? Under the new rules, buyers must sign an agreement to work with an agent before seeing properties, and they are now directly responsible for compensating their agent. While this might feel like an additional burden, it’s important to view it as an opportunity to choose an agent who will work tirelessly for your best interests. In practice, most agents - myself included - work hard to negotiate with sellers to cover some or all of the buyer’s agent’s fees through seller concessions or closing cost contributions. These discussions are more common now and can help offset this new responsibility. What Does This Mean for You? As a buyer, the biggest shift is understanding that the agent working for you is no longer automatically paid by the seller.
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