Public Service Announcement for Real Estate Buyers

PSA: Starting January 1st, 2024, Washington buyers now have a new obligation - You MUST establish a written agreement with your real estate agent before, or as soon as reasonably practical after their broker provides any real estate services. 📣

This move aims to enhance transparency, trust, and the overall transaction experience for all parties involved. Now, buyers will have the power to specify the terms of their agreement, the exclusivity of their relationship with their agent, the compensation rate, and how the agent will be compensated - whether by the seller, the buyer, or potentially both. Buyers also have the right to request their agent to filter listings based on their agreed-upon terms, ensuring no properties with lower-than-agreed compensation rates are presented.

So ultimately, what does this mean for you? As a buyer, this agreement gives you clarity and transparency with your real estate agent up front. This benefits both parties as you know exactly what to expect when it comes to your agent's compensation and duties to you.

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