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What has changed in the [August enforcement - Buyer's Edition Rules and Regulations at the time of viewing the property for sale and purchase]? 🏠 🧐

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 at the time of a viewing of a residential sales property by the guide of an agency agent after 8/17. 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,} a full-time mediation contract must be concluded 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 independently

☝ ️Point2 (preview stage)》:
The period of conclusion of a brokerage contract 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 preview):
In general, the seller has been paying the buyer's commission until now due to the custom. From 8/17 onwards, the seller/buyer side will have to negotiate the agent's commission, which has generally been borne by the seller as a matter of 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 seller sets the full burden ・ 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 negotiates a credit with the seller at the time of offer submission that can be applied to the closing costs, or the buyer pays the entire closing costs, etc. Includes the above. Various matters should be considered on a case-by-case basis. Please feel free to contact us for further details. I will be happy to read and explain in an easy-to-understand manner 😀


Remarks:
*Machikado Hotlist is available on this page(accessible from Town Guide and my page):
-New construction in Ward area completed in NovemberVictoria Place Video (repost)
-Questions to ask when viewing properties for sale - Azure Ala Moana (repost)
-What is the August revision of the regulations for residential properties for sale (repost)
-New Ala Moana Condominium ProjectMuse Latest News (repost)
*Disclaimer - Real estate transactions in other states and jurisdictions should be in accordance with the local MLS rules and regulations.