Starting in August 2024, significant changes from the National Association of Realtors (NAR) will impact the real estate industry.
About NAR
The National Association of Realtors (NAR) is the largest professional organization for real estate agents in the US with over 1 million members nationwide.
New NAR Rules and How it Affects the Buyer
A recent court ordered rule change has NAR forcing new rules on the home buying process. Before seeing homes, buyers must sign either a Showing Agreement or an Exclusive Buyer’s Brokerage Agreement. This document listing every home to be seen must be signed electronically by all buyers before any property visits.
What I Offer
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No Retainer Fees: No upfront costs.
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Commission Cap: Buyer’s pays 3%; I’ll reduce my commission to 2.5% if the seller doesn’t pay 3%.
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Cost Efficiency: You pay nothing if the seller’s contribution is 2.5% or more.
We can target homes with at least 2.5% buyer’s contribution or negotiate with sellers to contribute up to 3% towards the buyer’s commission.
Antonio will contribute 10% of his commission towards your closing costs and in some cases he'll also pay for the $400 transaction fee charged by the broker. See Details.
Some agents require a Retainer Fee in addition to the 3% commission. My goal is to get you to pay “0”
Recent Updates
The NAR Legal Department has released new forms for us to request seller compensation for the buyer’s side. Over 80% of all home sales involve the buyer’s agent, so it’s clear the market exposure they bring is valuable. The Veterans Administration now allows buyers to pay buyer’s commissions.
My Business Approach
For our first visit we’ll see 2-3 homes. I’ll send you a “Showing Agreement” for each property which must be signed electronically before we visit. If someone is buying with you, please send their email addresses so we can expedite the E-sign process.
Once you sign the "Exclusive Buyer’s Brokerage Agreement" we won’t need the "Showing Agreement" for future visits which will streamline the process.
For the first visit this agreement is fine. For subsequent showings I will have you sign the "Exclusive Buyer Brokerage Agreement" so you get dedicated and personalized service throughout your home buying process.
If I choose to end this offer, those who have signed the "Brokerage Agreement" with me will still be honored for the duration of their agreement.
This way you’ll get dedicated and personalized service throughout your home buying journey.
A big change is that commissions will no longer be disclosed upfront. Instead buyers will sign an “Exclusive Buyer Brokerage Agreement” before seeing properties. This document designates your exclusive real estate agent so you have dedicated service for your home purchases.
I should be that agent because of my many years of experience and certifications including being an Accredited Buyer’s Agent since 1978.
Get Preapproved or Prequalified
Sellers prefer prequalified buyers and often accept preapproval. Be prepared to provide proof of funds or a bank statement as sellers are now asking for this documentation to ensure buyers can close.
Avoid big purchases and co-signing until after closing to keep your credit score intact. Talk to your Mortgage Broker.
I work with a great mortgage broker who can get you a pre-qualification letter in hours. You can use your own broker; just send me the PDF letter via email.
Exclusive Partnership
To serve you best I’d like to be your Exclusive Licensed Real Estate Professional from our first meeting, formalized with an Exclusive Buyer’s Brokerage Agreement as required by NAR.
This agreement allows for a focused partnership so I can fully understand and cater to your needs making the process smoother and more efficient for you.
If I choose to end this offer, those who have signed the "Brokerage Agreement" with me will still be honored for the duration of their agreement.
Contact Antonio Ortega LLC to See How He Can Help You!
Feel Free to change the Price Range:
MLS Listings in Cities Nearby in Broward FL
Antonio will contribute 10% of his professional fee towards your closing costs. See Details!
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For those interested in more listings and detailed property information, visit our sister site South Broward Homes by Tony. Here, you can explore a wide range of properties and find the perfect home to suit your needs.
PS. Be it today, tomorrow or six months from now, I'm prepared to offer you dedicated extraordinary service.