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[Effective 2024 - Buyer's Edition Rules and Regulations at the Time of Viewing a Property for Sale and Purchase] What has changed? 🏠 🧐

As one of the revision of the regulation under the National Association of Realtors, it becomes necessary to conclude a full-time mediation contract between a viewing desire person (buyer) and an agent in advance when viewing a residential sales property by the guide of an agency agent after August, 2024. The points which should be considered beforehand and the main outline of the changes are explained as follows:


🏠 🔎 point 1 (preview stage)}:
(When the agency system is used, it is necessary to conclude a full-time mediation contract with the agency agent before previewing a residential sales object *Including virtual preview
*Commercial and rental properties are not applicable
*If you do not use the agency service, you can preview alone

☝ ️Point2 (preview stage)》:
The mediation contract conclusion period is also possible for each preview (one-time)
*Start with a short term → After you build trust with your agent, you can change the term to 6 months, 1 year, etc.

🏡 Point3 (Offer stage after viewing):
Until now, the seller has generally borne the main burden of the buyer's commission. From August 2024 onwards, the seller/buyer side will have to negotiate the agent's commission, which has generally been borne mainly by the seller according to custom. Matters concerning the buyer's agent commission that should be considered in the mediation contract signature on the buyer's side as follows ・ Negotiation method:
- There are indication options such as a percentage of the purchase price, a fixed amount system, and a fixed amount system along the fulfillment of conditions
- If the property to consider is not a property where the full burden by the seller is set, both sides can negotiate . ・ If the property you are considering is not a property where the seller pays for the entire purchase price


Including the above, there are options such as: both parties split the cost Both parties negotiate a certain percentage of the cost at the time of offer submission, etc.; the buyer can negotiate a credit with the seller at the time of offer submission to cover the closing costs; the buyer pays the entire cost, etc. Including the above, there are options such as Various matters need to be considered on a case-by-case basis. Please feel free to contact us for further details. We will be happy to read and explain in an easy to understand manner 😀
*New! ✨ Town Guide New Development Properties section has been renewed. Please take a look if you like.
*Please feel free to contact us about rental property management. Free consultation, we understand that sometimes it may be easier to talk with a third party about matters that are troubling you.



Remarks:
*Posted on Machikado Hot List. (Click on the "Machikado Hotlist" tab on the Town Guide page to access all posts):
- Hawaii Real Estate Q&A Federal ・ State Taxes on Sale
- Hawaii Real Estate Q&A What You Need to Know - Estate Planning A Knowing what to do - Estate Planning
- Hawaii Real Estate Q&A Capital Gains Tax Savings
- Ward District New Condo Development Plans Update
- Ala Moana District Featured New Condo Plan Muse
- Kaka'ako District New Kali'u Condominium Development Plan Update
- What to look for when viewing a property for sale - Azure Ala Moana
- Seller's Edition - What is the 2024 Revision to the Residential Sales Property Regulations
*Disclaimer - MLS regulations in other states and jurisdictions may be changed without notice. (The above is in accordance with the rules as an Oahu MLS member.)

[Contact]

• Junko Tanefusa 種房純子 | ハワイ不動産エージェント | HOMETIQUE
• 401 Kamakee St Ste 307, Honolulu, HI, 96814 アメリカ合衆国
• [TEL]+1 (808) 208-1371

[✅ Purchase and sale of investment properties ・ Lease brokerage of commercial properties ✅ Comprehensive support for your housing and relocation planning in Hawaii with the best plan to meet your requirements ・ after carefully listening to your individual situation. We provide careful market analysis, set up the most appropriate covenants for your situation, consider tax reduction ・ inheritance planning, tax incentives, special assessments, and various other checkpoints, and use our strong negotiating skills to ensure a smooth and secure contract process with more favorable terms and conditions. Our bilingual agents have extensive experience ・ with condominiums houses ・ townhouses ・ and various Hawaii properties in central Honolulu, Aiea/Pearlridge, Mililani, Kapolei, Ever Beach, Kaneohe and other areas on Oahu. Bilingual agents with extensive experience in townhouses and various Hawaii properties. Free consultation and questions ・ Please feel free to contact us.