New Real Estate Laws: What to Know Before Home Hunting

A new law requires buyers to sign a buyer agency contract before entering a home. This ensures clarity and legal protection for both buyers and agents from the start. While it may seem inconvenient, it’s important to comply with this law. Agents who skip this step may not handle your transaction properly. Additionally, contacting the listing agent directly may not be in your best interest, as they represent the seller. Understanding these changes helps ensure you're fully protected during your home-buying journey.

Hear what the founder of the Integrity Team, Gwyn Daubenmeyer Has to say:

Understanding Agent Commission Changes

Starting in August 2024, a new law mandates that buyers sign a buyer agency contract before entering any home, ensuring clarity and legal protection for both parties. While this may seem inconvenient, it's a crucial step to ensure your interests are fully represented. Gwen Dauben Meyer advises caution if an agent skips this step, as it could signal questionable practices. Additionally, contacting the listing agent directly isn't advisable, as they are legally bound to represent the seller's best interests, not yours.

Gwen and her team have always adhered to these practices, the law now formalizes the process, adding a new negotiation point about agent compensation that buyers should be aware of during their transactions

Buyers must sign a buyer agency contract before they can enter a home.

The listing agent cannot legally provide full fiduciary representation to a buyer, as they are contracted to represent the seller's best interests.

The new law introduces a negotiation point regarding the buyer's agent compensatio

Only Work with the Best

Embrace the possibilities of Oakland County living! Our dedicated team at Integrity Team will be your partner, ensuring a smooth and stress-free search. Let's find your dream home – the perfect place to put down roots and create lasting memories in this exciting community!