The changes brought about by the new NAR settlement focus on enhancing transparency and fairness in real estate transactions, especially concerning how agents acquire buyer-clients and show homes.
From: https://www.nar.realtor/
Implications for members and home buyers and sellers:
“After the new rule goes into effect: MLS participants acting for buyers would be required to enter into written agreements with their buyers before touring a home.”
“These agreements can help consumers understand exactly what services and value will be provided, and for how much.”
“The practice changes will go into effect August 16, 2024"
If you are averse to investing in a buyer’s agent, here some questions you may want to ask:
Can I go directly to the seller’s agent?
Yes. However, the seller’s agent’s responsibility and duty are to the seller, not the buyer. This means their priority is to secure the best deal for the seller, which may not necessarily align with your interests as the buyer.
Can the seller’s agent write the contract?
If he/she chooses, perhaps. But he/she has no responsibility to provide you with any protection in the contract or to negotiate on your behalf.
How will I know what is a fair offer?
It is impossible to estimate a fair market offer without a proper CMA (Comparative Market Analysis). The buyer’s agent creates a CMA to provide you with a fair offer price. Otherwise, you will have to make a guess as to what a fair offer may be.
Ultimately, while it's possible to work directly with the seller's agent, doing so may come with risks and potential drawbacks.