Following a major Missouri lawsuit, nationwide real estate transactions have changed as of August 17, altering how agents are paid and deals are made.
Are you wondering what’s going on in the real estate industry lately? Big changes have happened, and if you’re thinking about buying or selling a home, you need to know about them.
The rules of buying or selling your home have been completely rewritten. A major lawsuit in Missouri has shaken things up nationwide, changing how real estate transactions work. These new rules started rolling out nationwide on August 17, affecting everyone.
As a seller, you now have more options and more things to consider. Here’s what’s new for you:
- Pay the buyer’s agent directly with a fee you both agree on.
- Offer a partial fee and negotiate the rest when you get an offer.
- Pay no commission upfront, letting the buyer’s agent get paid by their client.
- Include concessions in the contract to cover the buyer’s agent’s fee.
“The rules of buying or selling your home have been completely rewritten.”
These choices can make the selling process a bit more complex. That’s why working with a good agent is more important than ever.
For buyers, transparency and commitment are now critical. Here’s what you need to know:
- You must sign an agreement with your agent before privately viewing homes.
- Open houses are still open—no deal is needed unless you want to see more homes with that agent.
- If the seller isn’t offering a commission, you’ll need to discuss with your agent how they’ll get paid—directly or through your offer.
While these changes might seem overwhelming, they bring more clarity to the process. You’ll know exactly who is getting paid and how which will help you make better decisions.
Ready to make your move in this new real estate landscape? Contact me at (480) 227-2028 or kelly@cookandassociatesaz.com. My team and I are up-to-date with all the changes and ready to guide you every step of the way. Don’t let these new rules catch you off guard—get expert help and make your real estate journey successful.