In this video, realtor Sander Scott explains the new state requirement that buyers must sign a buyer’s agency agreement before a realtor can show them homes. He outlines what the agreement covers—primarily how the buyer’s agent is compensated and that it applies only to the homes the agent shows. Scott clarifies that buyers may not owe any money if the seller’s listing agreement already includes buyer‑agent compensation, but if the seller’s offer is lower than the agreed commission, the buyer may need to cover the difference. He emphasizes the importance of choosing a skilled negotiator who can secure seller concessions to offset closing costs, including the agent’s fee. Throughout, he invites viewers in Northern Michigan to schedule a free consultation via his Calendly link, whether they are ready to buy now or in the future.
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So I'm sure you may have heard of the changes with buyer's agency. In other words, agents that are representing you as a buyer. A requirement that the state now has is that it requires buyers to sign a buyer's agency agreement before showing you as a buyer a home. It outlines what buyers pay for our services, and although it's an agreement, it only applies to the homes that I show you. After I show you that last home, we can decide to work together afterwards if you see value in doing so. And I believe that I can help you. Sound fair enough? If it does, click a link in my Calendly calendar and let's set up an appointment today. So a question buyers often ask is, so what, if anything, do I have to pay you if I make an offer on one of the homes that you show me? And the answer is, it really depends. You may not have to pay me a dime because it could already be in the listing agreement for the seller. And we discover that home by home by home now. Okay. So the seller may have already agreed to compensate a buyer's agent. And I believe that most sellers will continue to do that. So you may have to pay nothing. You may have to pay part of it. In other words, if we agree to 2.5% compensation and the seller's agent's offering 1.5%, then you'd only have to pay the difference. In this This is why choosing an agent who is a competent or even an excellent negotiator is so important, because I, on your behalf, can negotiate with the seller to include what are called seller concessions that will cover part or all of your closing costs, which would include the buyer's agent's compensation. So if you want to learn more about this, about how it works, and more importantly, you want to get going on finding your dream home or dream property in Northern Michigan, click the Calendly link. Let's set up an appointment today and I can get into greater detail that's more specific to you and meet your needs. And let's get going. Whether you're looking right now to make a move right now or 3 years from now, let's get started and make a plan today on making this dream a reality for you. Thanks so much. I'm Sander Scott. Your full-service realtor.
