You decided now is the right time to sell your home or you had your eye on the market, found the perfect house and now finally ready to buy. Either way in doing your research, you keep running across articles and news reports about the National Association of Realtors (NAR) large legal settlement. You are wondering will this somehow cost or save me money? Here is a simplified version of how it will affect you as a buyer or seller.
Buyer: If you are using an MLS agent, which the majority of us are, you will need to sign a written agreement with your agent before touring a home so you understand exactly what services will be provided, and for how much. This agreement is called a Buyers Brokerage Agreement (BBA) and are required for both in-person and virtual home tours. You do not need to sign a BBA if you are just speaking to an agent you meet in an Open House. Before signing a BBA you and your agent will discuss all the services they provide and how the payment of any compensation will be handled. In the state of GA a BBA was always a requirement between buyers and agents, so nothing has changed.
Sellers: Agent compensations continues to be negotiable. It always has. Before signing a Listing Agreement you and your agent will discuss the compensation and all the services they will provide, including a comprehensive market analysis, marketing & negotiation strategies, staging and everything you need to do to prepare your home for market and get the highest price possible.
In summary, you need to partner with an experienced trustworthy real estate professional who can help you navigate the complicated process of buying or selling a home. Choosing the right agent could mean the difference of saving you thousands of dollars as both a buyer or seller.
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