Big Changes in Real Estate: What You Should Know
Thinking about buying or selling a home? Heads up: There’s a new rule you need to know about—one that means putting things in writing before you even start house hunting. You might be wondering: What does this mean for me? Will I have to sign something before I even start looking? Will this limit my options?
These agreements aren’t about making things harder—they’re about making things clearer. They protect you, eliminate misunderstandings, and ensure your agent is fully aligned with your needs. When expectations are clear, the process runs smoother. When everything is written down, there’s no confusion. And when transparency leads the way, everyone wins.
What’s Different Now? The New Rule That Impacts Buyers and Sellers
The game has changed. As of August 17, 2024, buyers are required to sign a written agreement before touring homes with an agent. This isn’t a hurdle—it’s a safeguard. For years, sellers have signed listing agreements to define their relationship with their agent. Now, buyers get the same clarity.
This change ensures:
- Clear expectations – No more wondering what your agent is doing for you.
- Transparency in fees and services – You’ll know exactly what’s being provided and for how much.
- Professional accountability – When everything is in writing, there’s no room for confusion.
But what does this actually mean for you? Let’s break it down.
What’s in the Written Agreement? Here’s What You’re Signing
There are two main types of buyer agreements you should know about:
- Exclusive Buyer Agreement – You agree to work only with one agent for all home purchases during a set time. This means your agent is fully committed to helping you find the right home.
- Showing Agreement – This agreement applies when you want an agent to represent you for a particular home or a specific set of homes, rather than for all of your purchases. It provides clarity on your agent’s role and compensation for those specific properties.
Understanding the difference helps you decide which type of agreement works best for your needs.
Every agreement will spell out the following:
- What your agent will do for you – Think home searches, showings, negotiations, and contract management.
- How long the agreement lasts – The start and end date, plus any termination terms.
- How your agent is compensated – A clear, upfront disclosure of commissions or fees.
- Whether you’re committed to one agent or multiple – Exclusive vs. non-exclusive agreements.
- Your responsibilities – What’s expected from you in the process.
Pro Tip: Agent fees are negotiable. Compensation is not set by law, and you have the right to discuss terms before signing. Who pays the commission is also part of the negotiation—often, your agent can work with the seller or seller’s agent to cover some or all of the buyer’s agent commission as part of the deal. Be sure to pick the right agent for you. Find useful tips in Worthington Realty’s Home Buying Guide.
What Buyers Need to Know Before Signing
- When You Sign: Before viewing homes with an agent.
- Why It Benefits You:
- Know exactly what your agent is doing for you.
- Get full transparency on fees—no hidden surprises.
- Work with confidence, knowing your agent is committed.
- What About Open Houses?
- If you attend an open house without an agent, you do not need a signed agreement.
- Your Right to Ask Questions:
- If anything in the agreement is unclear, ask. A great agent won’t rush you—they’ll walk you through every detail.
Pro Tip: A strong agent is a trusted guide, not a salesperson. They should take the time to make sure you feel comfortable before signing anything.
What Sellers Should Expect in Their Agreement
- No major changes – Listing agreements have always been standard, but now they ensure even more transparency.
- What’s included in your agreement:
- Marketing strategy – How your home will be positioned in the market.
- How showings and offers are handled – Ensuring a smooth, efficient process.
- Commission details – Defined clearly, with no last-minute surprises.
- Questions to Ask Your Agent:
- What’s included in your marketing plan?
- Can I cancel the agreement if I change my mind?
- What services are provided beyond listing the home?
Pro Tip: A great agent should go beyond listing—they should craft a marketing strategy that makes your home stand out. Download your free Staging Guide here.
How These Agreements Work in Your Favor
Here’s what happens when expectations are crystal clear:
- No surprises – Everything is in writing. You know what’s happening and why.
- More trust, better communication – When expectations are defined upfront, misunderstandings disappear.
- A smoother experience – Less friction, more momentum, and a better home-buying or selling process.
This rule isn’t here to slow you down—it’s here to make things simpler. Transparency puts you in control. Transparency isn’t just a rule; it’s a tool that ensures you’re always in control.
Next Steps: How to Move Forward with Confidence
Understanding the rules is the first step. Now, here’s how to move forward with confidence:
Step 1: Call Worthington Realty for a quick consultation. Step 2: We’ll walk you through the agreement so you feel 100% confident. Step 3: You’ll move forward knowing exactly what to expect—no surprises.
Ready to Buy or Sell? Let’s Talk
Many buyers are actively touring Homes for sale in Lexington Country Club with golf course views, New Construction Homes in Timber Creek with modern amenities, or Historic Homes for sale along McGregor Blvd., rich with character and charm.
If you’re thinking about buying or selling, here’s your next move:
- Buying? Let’s talk about what a written agreement means for you.
- Selling? Let’s craft a plan to make your home stand out in today’s market.
- Still have questions? Let’s talk. No jargon. No pressure. Just straight answers about what this means for you. Give us a call, and let’s figure it out together.