Dear Home Buyer,

As of August 2024, following the NAR (National Association of Realtors) settlement, it’s more important than ever for you to have a formal Buyer/Broker Agreement in place before viewing any properties.

This agreement has become essential due to changes in how commissions and broker responsibilities are handled. The Buyer/Broker Agreement clearly outlines the relationship between you and your broker, including their duties to you, such as showing properties, negotiating offers, and guiding you through the home-buying process. It also specifies how your broker will be compensated—a key detail given the recent changes in seller-paid commissions.

In most cases, the seller is still offering to pay the buyer’s broker commission. However, without a Buyer/Broker Agreement, you may face limitations on the properties you can view, especially if a seller isn’t offering compensation to your broker. By signing this agreement, you ensure your interests are fully protected, and your broker remains motivated to find the best possible property for you, regardless of the seller’s offered compensation.

Taking this step is crucial for navigating the new real estate landscape and ensuring you receive the best possible service during your home-buying journey.

Sincerely,
Pompano Beach Realty
Call: 954-505-6000

Read more at the NAR website and view the Consumer Guide to the Changes