A new set of rules governing how many real estate professionals do business here in the U.S. went into effect this past weekend, and it could change the way homes are bought and sold. The changes come in the wake of a $418 million settlement with the National Association of Realtors over antitrust claims. Naomi Streicher of Q Home Sales in New City says the new rules change the way business gets done, but it isn’t necessarily better…
The new rules require buyers to sign a legally-binding representation agreement with their agent before they can begin looking at homes together. These agreements are designed to inform home buyers how their agent gets paid.