A New Landscape in Real Estate
Change #1
Listing broker’s are no longer allowed to publish an offer of compensation to a buyer’s broker on the MLS.
Prior to August 17th, 2024, when you listed your home for sale, you would negotiate a rate with your broker. A portion of that rate would be offered up to any broker who procured a willing and able buyer, and would be paid to that broker at closing.
Publishing this in the MLS is no longer allowed. Offering an incentive is still allowed, but it just can’t be published in the MLS.
Change #2
When helping you buy a home, we are no longer allowed to work for you without a written agency agreement defining our compensation up front as your agent. This means that we cannot show you homes without consulting with you and coming to an agreement about how we will be paid, and how much we will be paid. The seller is no longer obligated to cover the buyer’s agent’s fee.