Major Changes in Real Estate: Important Buying Rules You Need to Know!

[@amanacatandhisdog8836]

I had a great buyers agent. It was a friend of my parents. Please don’t let the builders agent represent you either.

[@moreliberty1]

For a while, we were buying about one per year, but haven't bought since interest rates moved upward. In my experience, and for my preferences, agents are valuable. I would never want to deal with the transactions myself, but like you said, I'm happy for those who prefer doing the work themselves. It's similar to hiring professionals for home improvement projects versus DIY. I prefer to hire professionals because every time I DIY, I end up spending more money on tools and supplies than I expected, and am left underwhelmed by the results (yes, definitely a skill issue).

[@moreliberty1]

As a buyer, I am warm to the idea of paying upfront so that the agent does not work for free if a transaction doesn't materialize. In practice, I've never aborted a house search, but the freedom of the buyer to end the representation having paid nothing has always seemed unhealthy, even as the benefiting party. I'm guessing the contracts you describe that, in most cases, still end up being fulfilled by splitting the seller's commission in a transaction, may include clauses about the buyer paying something if the representation ends prior to a transaction occurring. Am I wrong there?

[@KrommRealEstate]

One, I don't think we have seen the official NEW contracts yet. In the agreements we currently have and have used before, it's always predicated on closing a sale. Nobody ever gets paid unless you close the deal. There's also currently a get outta jail free card in there, too. So the relationship can just, end, without penalty, but I don't know if that's staying in the new version or not.

[@harveypaxton1232]

If the buyer's agent is not paid by the seller, your property will not sell. Simple fact.