Vivinavi : Hawaii : (United States) Hawaii

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[Effective 8/17 - Revisions to regulations for previews of properties for sale] What has changed? 🏠 🧐

As one of the revision of the regulation under the National Association of Realtors, a full-time mediation contract must be concluded between a viewing desire person (buyer) and an agent in advance when viewing a residential sales property by the guide of an agency agent since August 17, and what used to be optional has become a mandatory regulation. 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 the agent in charge, you can switch to 3 or 6 months

🏡 Point3 (Offer stage after viewing):
In general, the seller has been paying the buyer's commission until now due to the custom. The agent commission of the buyer, which has generally been borne mainly by the seller by custom, will be a matter of negotiation between the seller and the buyer from 8/17 onwards. 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 seller's full burden is set, both sides can negotiate. ・ If the property you are considering is not a property where the seller pays the full purchase price


-Both parties negotiate a certain percentage of the purchase price at the time of offer submission, etc., or the buyer can negotiate a credit with the seller at the time of offer submission to cover closing costs, or the buyer can pay the full purchase price, etc. Includes the above. Various matters should 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 😀


Remarks:
*Machikado Hotlist 9/6 posting is also available
*Disclaimer - Please follow the jurisdiction MLS regulations for real estate transactions in other states and regions (The above is in accordance with our rules as an Oahu MLS member.)