Our real estate team has seen a positive response from buyers regarding the new requirement for a buyer's agency agreement. Initially, many buyers and even some sellers expressed confusion, as media coverage often implied that buyers would now be solely responsible for paying their buyer’s agent.
However, once we took the time to educate buyers about the new forms and processes, buyers quickly realized that the new structure of compensation is actually more transparent, giving them greater control over what they will or won’t need to pay. Buyer’s agents, help negotiate terms that best suit the client, which encompass all terms of the contract including compensation.
Some buyers initially consider coming in unrepresented in hopes of securing a better deal on a home. After explaining the role and skills of a buyer's agent, many realize that self-representation might not be the best path as they are not familiar with the contracts and the process in order to keep a transaction moving along smoothly.
Overall, the change has been received well and has given our buyer’s agents a chance to verbalize more clearly their role in the process, their skill sets and the advantages to having a buyer’s agents.
Christine McCoy is the founder and leader of The Real McCoy Group. She is an award-winning agent and has grown her team of top producers in the Delaware and Maryland Coastal area, consistently ranking in the Top 5 Large teams for Coldwell Banker Realty of the Mid-Atlantic.
For more information visit The Real McCoy Group or contact us at 302.539.1777.
