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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 when viewing a residential sales property by the guide of an agent after 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 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's full burden is set, both sides can negotiate half and half. ・ 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 options. Various matters need to be considered on a case-by-case basis. Please feel free to contact us for more details. I will be happy to read and explain it clearly 😀


Remarks:
*Makakado Hotlist is available on this page(accessible from Town Guide and my page):
-New construction in the Ward area completed in NovemberVictoria Place Video
- Questions to ask when viewing properties for sale - Azure Ala Moana
- Seller's Edition - What are the August changes to the rules for residential properties for sale (repost)
- Ala Moana New Condo Plan Muse Update (repost)
*Disclaimer - Real estate transactions in other states and jurisdictions should be in accordance with the local MLS rules and regulations.