Fact vs. Fiction:

Navigating the Headlines About Buying a Home

You’ve probably heard the buzz: the National Association of Realtors (NAR) recently lost a lawsuit, leading to some significant rule changes around buyer agency and broker compensation. With any big shift, there’s bound to be a mix of facts and fiction swirling around. Fear not! I’m here to help you separate the truth from the myths and give you a clear picture of what to expect when buying your next home. Let’s dive into some of the point …

Fiction: Since August 17th, I must pay the entire buyer agent commission when buying a home.

Fact: Commissions have always been negotiable, and most sellers are still offering compensation to agents with buyers. Each property and deal have their own set of economic circumstances, and good agents negotiate favorable deals for their clients—especially those concerning money.

Fiction: Buyer’s agents can tour listings with buyers who have not signed Buyer Representation Agreements.

Fact: As of August 17th, buyer’s agents are required to have a signed Buyer Representation Agreement before they are permitted to tour properties with potential clients. This isn’t a choice but a requirement for all agents.

Fiction: Only certain brokerages are requiring Buyer Representation Agreements before touring properties with a real estate agent.

Fact: Every buyer’s agent at every brokerage is required to have a signed Buyer Representation Agreement before touring any properties with potential clients.

Fiction: All listings are available online, so working with a buyer’s agent isn’t necessary.

Fact: Agents have access to Private Exclusives—off-market listings that sellers may not want to list publicly. By working with me, you can gain access to exclusive inventory before the competition, helping you avoid bidding wars and giving you time to craft your best offer.

Fiction: Buyers won’t want to work with an agent if they have to sign a Buyer Representation Agreement.

Fact: A whopping 89% of homebuyers use a real estate agent to purchase their home, and 91% agree it would be very stressful to navigate the homebuying process without one. To access the full value of a professional buyer’s agent, a Buyer Representation Agreement must be in place.