New Rules to Follow

Understanding the Buyer-Broker Agreement:

What You Need to Know

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If you’re considering buying a home, it’s crucial to understand the recent changes affecting how we work together. These changes, prompted by a significant lawsuit involving the National Association of Realtors (NAR) and the Department of Justice, have reshaped the real estate landscape. Here’s what you need to know about the Buyer-Broker Agreement and how it impacts you as a buyer.

Why the Change?

Due to a settlement, new rules now require transparency in real estate transactions:

  • Clear Compensation: Everyone involved must be informed about the compensation structure, including the buyer, seller, and agents.

  • Written Agreements: A written agreement must be signed before an agent can show you any properties.

Introducing the Buyer-Broker Agreement

This agreement formalizes our working relationship, ensuring transparency and commitment. Here’s a breakdown of its key components:

  • Parties Involved: The agreement is between you (the buyer) and our brokerage. While I’ll be your primary contact, the brokerage holds legal responsibility.

  • Term: The agreement typically spans one year, during which I commit to finding you the perfect home.

  • Scope of Work: It outlines the type of property you're looking for, but it’s flexible enough to cover any real estate interest you pursue during the term.

  • Broker’s Obligations: We commit to representing you diligently, including the possibility of representing other buyers or even the seller if we have their listing.

  • Buyer’s Obligations: Your cooperation is essential. Be honest about your preferences and provide timely feedback.

  • Retainer Fee: A retainer fee ensures your commitment. This fee is credited towards the commission upon closing. It shows mutual commitment and keeps both parties accountable.

  • Compensation: Typically, the commission is around 3%, but it’s negotiable based on the specific requirements of your search.

  • Protection Period: Even if you terminate the agreement, if you purchase a property we showed you within a specified period (usually 90 days), we still earn the commission.

  • Dispute Resolution: We prefer mediation over litigation for resolving disputes, ensuring a smoother process.

  • Special Clauses: Situations like unforeseen relocations or personal emergencies can warrant a refund of the retainer fee.

Why Choose The Demitri Team?

  • Expert Guidance: With years of experience and in-depth market knowledge, we are equipped to find you the best deals and navigate complex transactions.

  • Comprehensive Support: From negotiating seller concessions to finding the perfect home or land, we handle every aspect of your home-buying journey.

  • Dedicated Service: Our commitment is to ensure you have a smooth, stress-free experience, and end up in a home that fits all your needs and desires.

  • Commitment: Our team’s extensive network and resources mean we leave no stone unturned in finding your perfect home.

  • Transparency: We believe in clear, honest communication throughout the process.

The Demitri Team at Keller Williams - (561) 461-8620

Our Team of Realtors Are Located Throughout Florida

Palm Beach Gardens - Orlando - Coral Springs - St Lucie - Vero Beach - Boca Raton - Pompano - Lake Worth - Jupiter - Tequesta - Panama City Beach

Stuart - Cape Coral - Clearwater - Kissimmee - Jacksonville Beach - Tampa - Fort Myers - Naples - Sarasota - Palm Bay - and many more

Broker: Keller Williams Reserve - 6271 PGA Blvd., Suite 200, Palm Beach Gardens, FL 33418 - (561) 318-7240