Understanding New Real Estate Laws and How They Protect You as a Buyer
Buying a home just got easier. Thanks to recent changes in real estate laws, following a major settlement with the National Association of Realtors, buyers now have more control over the home-buying process.
Real estate agents are now required to outline their services and fees in writing before you even step foot in a property, so you’ll know exactly what to expect. Plus, while the seller will still have the option of paying the buyer’s agent, establishing this relationship between the buyer and their own agent encourages competition and allows more room for negotiation. These updates are all about simplifying the home-buying experience and putting you in the driver’s seat.
Contact Coakley Realty online today to learn more about the latest real estate law updates and discover how they can benefit you.
Overview of Key Changes in Real Estate Laws
At Coakley Realty, we’re here to guide you through these changes and help you confidently navigate the market. Here’s a closer look at the key changes:
- Agreed-upon fees: Real estate agents must provide a written explanation of their services and fees before you even view a property.
- No more hidden commissions: Agents can no longer include buyer’s agent commission rates in property listings.
- More power to negotiate: Since commission rates won’t be advertised, you have the flexibility to discuss fees with your agent.
- Better understanding of your agent’s role: Buyer’s agents must now clearly explain their role, so you know exactly how they’ll help you and why their services are valuable.
How We’re Already Ahead of the Game
At Coakley Realty, we’ve always prioritized transparency and clear communication with our clients. That’s why we’ve been using buyer-broker agreements long before they became required under the new real estate laws. These agreements outline exactly how we’ll represent you, what services you can expect, and what the costs will be—upfront, so there are no surprises. This practice ensures that you fully understand your relationship with us from the start, and it aligns perfectly with the new laws aimed at protecting buyers.
How These Laws Benefit You as a Buyer
The new real estate laws bring several benefits that make the home-buying process easier and more transparent for you:
- Clearer expectations: The new rules make sure your agent’s role and responsibilities are clearly defined so you know exactly what to expect from them, and they’ll be focused on your best interests.
- Easier to make informed choices: With agents now required to explain their services and fees upfront, you’ll have all the information you need to make informed decisions.
- More transparency: The changes remove hidden deals and unclear commission structures. Now, you’ll know exactly how your agent is getting paid, which helps you trust the advice they give.
- Better accountability: With everything written down clearly, your agent is more accountable for delivering the services they promised. This ensures that you’re getting the support you need throughout the buying process.
Tips for Buyers To Avoid Getting Ripped Off
Even with the new laws in place, there are still other ways to protect your investment. Here are some important tips to keep in mind:
- Take your time
- Don’t skip the inspection
- Work with a real estate agent
- Research the market
- Read the fine print
Schedule Your Consultation With Coakley Realty Today
When it comes to buying a property, you want to make sure you’re in good hands. At Coakley Realty, we’re here to guide you through every step of the process, ensuring you feel confident and informed from start to finish. Whether you’re looking to buy, manage an investment, or handle a tax appeal, we’re ready to help you make the best decisions. As a locally owned business with deep community ties, we take pride in offering honest, clear service that puts your needs first.
Schedule your consultation with Coakley Realty today and experience the difference in working with a team that understands your needs.
