You may want to be aware of some new developments in the way real estate will be conducted in the near future. You may have heard about it recently in the news. The National Association of Realtors® has announced that under a potential Settlement Agreement two new MLS rules will be enacted in mid-July 2024. In summary, one will completely remove offers of compensation to Buyer's Brokers in the MLS, and the other will require any MLS participants who are working with a Home Buyer to enter into a written representation agreement before showing a property. What does this mean to you? This means there will very likely be added expenses to Home Buyers when closing on real estate - costs for Realtor services that were customarily paid for by Sellers. This will change the way real estate transactions have been handled over the last 100 years.
With this said, if you are seriously interested in making a property purchase, you may want to consider contracting on a property before this summer. It very well may be advantageous to you as a Home Buyer as Buyer's Agent Commissions for services provided are currently still being paid by Sellers.
As a real estate professional for the last 17 years, it is my job to assist Buyers and Sellers with our ever-changing real estate market - to help navigate the challenging tasks of contract negotiations, conducting proper inspections, financing and insurance needs, in order to make solid investments now and for the future.
I hope this information is helpful to your decision making. I will keep you informed as changes unfold. Please don't hesitate to contact me with questions or concerns. As always, I am here to make the home buying and selling process easier for you.
Kind regards,
Chris
Emerald Coast Realty
850.485.3575
