Real estate buyers are now responsible for paying their REALTOR®, and those commissions are negotiable. Signing a buyer’s brokerage agreement is now a requirement before a REALTOR® can give a tour a home for sale.
Sellers are now only responsible for paying a listing fee. Buyers are now responsible for paying their REALTOR®, and it shall be stated in the buyer’s brokerage agreement they sign BEFORE they can be shown a home for sale by a REALTOR®.
Sellers may pay the buyer’s agent, but it is NOT required.
Buyers, you need to know what you are signing! You don’t want to sign without reading!
If you are a prospective buyer of real estate, the way you will work with your REALTOR® just changed….That is unless you are currently working with a REALTOR® who has already started requiring that all their prospective buyers sign a buyer’s brokerage agreement that states in it the amount of the commission you will owe your REALTOR®.
Below, I am posting a YouTube video that explains it all. All buyers and sellers of real estate should watch this video before signing a listing agreement (if a seller) or a buyer’s brokerage agreement (if a prospective buyer), or they should learn about the changes in the way real estate commissions will be earned by REALTORS® starting on August 17, 2024, in another way.
Below, I am also posting a copy of the brokerage agreement that I am using with buyers in the State of Georgia. I am using the customer version of the Georgia Association of REALTORS® agreement with all buyers when I first start working with them so as to not lock them into working exclusively with me. After a potential buyer and I have time to get to know each other and have an understanding of each other’s desires and responsibilities, we can always then sign an Exclusive Buyer’s Brokerage Agreement if that becomes appropriate.
If you are a potential buyer, you want to carefully read whatever agreement you sign with a REALTOR® as you want to make sure you understand all the terms of the agreement before you sign it.
If you are looking for a REALTOR® to help you buy real estate in Georgia (or Florida) and would like to discuss your real estate needs with me, I can be reached at 912.387.9922 or at contactmarykelly@gmail.com.
My buyer brokerage agreement to work with buyer as a customer – Used when I show first home
