Found 2 blog entries tagged as fiduciary duty.

Understanding Today's Real Estate Rules: A Buyer's Quick Refresher

Where We Stand Today

If you are considering buying a home in Lincoln County, you may have heard about changes to how real estate agents work with buyers. These rules have now been in effect for several months, and many buyers still have questions about what they mean in practice. Here is a straightforward review of what you should know.

The Traditional Approach

For decades, the home buying process followed a familiar pattern. Sellers hired a listing agent and agreed to pay a commission. That commission was often shared with the agent who brought the buyer. The Multiple Listing Service (MLS) displayed these commission offers, making buyer representation accessible and…

57 Views, 0 Comments

Read Full Post

The New Landscape of Real Estate Representation: What Buyers Need to Know

A Major Shift in Realtor Compensation

The real estate industry is undergoing its most significant transformation in a century. Following a landmark legal victory against the National Association of REALTORS® in 2023, the traditional compensation structure for real estate professionals has been fundamentally altered, with these changes taking full effect as of August 17, 2024.

How Things Worked Before

Previously, the real estate transaction process operated through a relatively straightforward model:

  1. Sellers would hire a listing broker for a percentage or fixed fee
  2. Through the listing contract, the seller's broker could offer to share compensation with buyer's…

421 Views, 0 Comments

Read Full Post