Signing a contract to just view one single home in California

Santa Clarita Open Houses | Connor with Honor | FAT to Fit Realtor

Good Day, Santa Clarita!

It's Connor with Honor, and I hope everyone is doing fantastic! This is your weekend update for Sunday, September 1st. The numbers for August 2024 are not yet finalized, but I want to discuss the most significant recent changes in the real estate market—specifically, some contractual changes due to a settled lawsuit involving the National Association of Realtors.

New Buyer Requirements:

If you're in the market to buy a home, you'll now be required to sign a Buyer-Broker Agreement before viewing any property. This contract will outline several important details:

1. Compensation to Your Realtor: The agreement will specify how much you will pay your realtor for their services.
2. Seller Compensation: It will detail how much the seller's agent will receive from the seller, which is another critical aspect to be aware of.
3. Scope of Representation: The contract may cover all properties within a particular time frame or be limited to a single property. Make sure to understand the extent of your agent’s representation.

There is a lot to consider, so be sure to read the contract carefully. Remember, I'm not an attorney, so I can't provide legal advice about contract details.

Navigating Real Estate Relationships:

Let's imagine a scenario: a potential buyer calls an agent and asks to see a specific property. The agent, who does not currently represent the buyer, asks if they have a real estate agent. If the buyer says no, the agent might offer to represent them, explaining how great they are at their job. The buyer might respond positively, saying they’ve read good things online and are interested in working with the agent.

However, if the buyer only wants to see one property and is unwilling to sign the Buyer-Broker Agreement or provide their contact information, it can create friction. The agent might try to negotiate, explaining that they need the contract to show the property and that their fees must be agreed upon beforehand.

This back-and-forth can lead to a difficult conversation, especially if the buyer is adamant about not wanting to sign the agreement or share their information. In this scenario, the agent must decide if it's worth pursuing the relationship when it’s already adversarial from the start.

Why You Might Want Your Own Representation:

There are also cases where buyers prefer to deal directly with the listing agent, believing it might get them a better deal. They might think the listing agent knows the seller's bottom line and can

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