Real Estate's New Reality-Update 1/2025
What has and has not happened since? Well, as I mentioned at the end of Part 3 what was out west is now here, at least at our local area (Central Virginia). Recently our Association chose to remove any language from a listing agreement regarding the offering of Buyer's Agent compensation upfront. Which actually makes our jobs a little bit easier but a little harder on buyers, especially those on a tight budget. You don't know prior to making an offer if any of your agent's compensation will be paid. It is now fully and completely negotiable within the contract between buyer and seller. **Side Note** A brokerage may allow their seller to offer compensation ahead of time, it's not currently illegal. They would need to write that language in themselves or provide a different contract/addendum. Our Association chose to remove it from their standard forms as a best practice. The whole point of the lawsuits and DOJ's intentions was to remove broker to broker compensation...