Buyer's Agent Service

These rules were established as part of a settlement involving the National Association of REALTORS®. The changes increase transparency around buyer representation and compensation.

What this settlement means for homebuyers:

• You must sign a written agreement with your buyer’s agent before touring a home.
• Before signing, you should fully understand the services being provided and how your agent will be compensated.
• The agreement must clearly outline compensation terms (amount/rate or how calculated), and be specific and objective.
• The agreement must prohibit the agent from receiving compensation that exceeds what is agreed upon with the buyer.
• A clear statement that commissions and broker fees are negotiable and not set by law.
• Sellers may still choose to offer compensation to a buyer’s agent, but it will no longer be displayed in the MLS.
• Buyers may still accept seller concessions, such as assistance with closing costs.

What the settlement does not change:

• REALTORS® remain ethically obligated to act in their clients’ best interests.
• Agent compensation is negotiable and must be discussed openly and transparently.
• Buyers still have choices — we’ll walk through options before you decide.

DISCLOSE TO BUYERS AND SELLERS THEIR DUTIES.

As a single agent, Southwest Coast Realty, Inc., owe to you the following duties:

• Dealing honestly and fairly
• Loyalty
• Confidentiality
• Obedience
• Full disclosure
• Accounting for all funds
• Skill, care, and diligence in the transaction
• Presenting all offers and counteroffers in a timely manner (unless directed otherwise in writing)
• Disclosing all known facts that materially affect the value of residential real property and are not readily observable