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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, 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 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 may choose to split the cost


including the above, negotiate with the seller at the time of offer submission a percentage of the closing costs, etc., or negotiate with the seller at the time of offer submission a credit to be applied by the buyer to cover the closing costs, or the buyer pays the full purchase price, etc. including 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 it to you in an easy-to-understand manner 😀


Remarks:
*Makakado Hot Listing Submission (accessible from Town Guide and my page):
-Kaka'ako area new condominium project Kali Kali'u Update
-New Ala Moana Condo PlansMuse Update (repost)
-New construction in the Ward area completed in NovemberVictoria Place footage (repost)
-Questions to ask when viewing a property for sale - Azure Ala Moana Edition (repost)
- Seller's Edition - What are the revised rules for residential properties for sale that went into effect in August (repost)
*Disclaimer - Please follow the local MLS rules for real estate transactions in other states and areas (The above is in accordance with the Oahu MLS (The above will be in accordance with the rules and regulations as a member of the Oahu MLS)