The National Association of Realtors’ agreement to settle legal challenges around commission standards for US real estate brokers raises the possibility of changes in the way Americans buy and sell homes.
Many have been left wondering how much they might pay in commissions in the future after an extraordinary $418 million settlement between groups of house sellers and the National Association of Realtors was reached. The settlement has not yet gone into effect.
However things turn out, people will still be purchasing homes. And most of them are going to think about hiring a buyer’s agent.
Here are some expectations you should have from any licensed buyer’s agent if you intend to use one: what you should look for in terms of legal, ethical, and practical advice, as well as how to select the best fit for your circumstances.
A buyer’s agent: why use one?
In essence, the buyer’s agents represent Team You. Agents have a fiduciary duty to protect your interests throughout the home-buying process, from house hunting to closing. The best interests of the buyer should always be at the center of the transaction, according to RE/MAX, LLC President Amy Lessinger. “They prioritize [your] needs over their own.”
Some Americans are already buying and selling homes differently as a result of the Realtors deal.
This can entail a variety of things, such as being shown properties that meet your stated requirements and fall within your budget.
