Quote:
Originally Posted by Craig Vernon
I am not up against any deadline to buy my forever home in TV, but my retirement date is approaching. With the new real estate law most realtors are requiring a buyer's agent agreement to show properties listed on the MLS. I saw one of these forms from a large realtor in TV that stated that I was exclusive with them for sixty days on any purchase. I am wary of the possibility that these agreements can limit my buying experience in a ton of ways. Few Examples: For Sale By Owner, VLS, Promptness of showings may be limited, delays in paperwork or offers. I believe in the motivation of commissions but with exclusivity to an individual agent the dynamic changes. I will be watching and waiting to hear of any experiences coming after new law takes effect on August 17 and moving forward. See you all as a neighbor in TV early 2025!
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I’ve used a buyers agent - even 45 yr ago. I knew I wanted an agent working g for me, specialty property in high demand. I paid them a nominal fee for showing me the property. Lawyer wrote contract to include commission to my agent.
I’ve also had contracts where there was no commission to buyers agent, the sales price was greatly reduced. Buyer paid own agent. To this day I don’t think the seller appreciates what they lost.
Buyers agents aren’t new. Buyers finally understanding the listing agent or selling agent in a traditional listing isn’t working for them is.
Find a buyers agent to be yiur agent for specific properties. 60 days is absurd.