Effective August 17, these key practice changes include mandatory buyer representation agreements, requiring buyers to formalize their relationship with agents before home tours, and the elimination of buyer-agent compensation offers in MLS listings. Buyers will need to negotiate agent fees upfront, enhancing transparency and shifting some of the dynamics of negotiating offers and terms with sellers. Sellers may adopt new marketing strategies to appeal to buyers navigating these changes, highlighting the importance of skilled real estate professionals during the process.
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