How to Get Buyers Who Want to Work with You (and Pay You!) Even If the Way Buyers’ Agents Get Paid Changes
Being a buyers’ agent is a total crap shoot, yet the vast majority of agents find themselves constantly rolling the dice, hoping to get paid.
Why You Should Now Hire a Buyers’ Agent BEFORE You Find a House You Want to See in Person
Home buyers are often more focused on finding the perfect home to buy than they are on finding an agent to help them through the process.
It makes sense, since most buyers casually begin searching for houses online months, if not years, ahead of when they’ll actually purchase one. But eventually, you see a house online that you’d like to go see in person…
In the past, you could just call an agent you’ve worked with in the past, or someone a friend or family member recommended (or even an agent you don’t know at all). Most agents would gladly show you the house with no strings attached, and wouldn’t ask you to sign an agreement to work with them.
However, starting on August 17, 2024, you’ll be required to sign a written agreement with an agent before they’re allowed to show you even a single home.
Considering this isn’t something the majority of agents have required in most areas of the country for almost the entire history of real estate, this might come across as a big ask when an agent asks you to do so. So, it’s certainly understandable if some buyers are concerned or hesitant about signing on the dotted line with an agent, just to see inside a house.
But rather than getting upset with this new requirement, let’s take a look at how it might actually make your home buying experience better.
You Can Just Sign a One-Time Showing Agreement, But…
One of the main reasons why buyers might hesitate to sign a written agreement to work with an agent is because they don’t want to commit to one they’re not sure they even want to work with.
The good news is, you can sign an agreement to see a single house, and you’re really only committing to that agent if you happen to buy that particular house. You could literally do that with a different agent for every single house you want to see.
But while you can take that approach, here are a few reasons why it’s not the best way to go about buying a house:
- It’s entirely possible that you could meet an agent and trust them immediately. But trust is something that often develops over time and experience working with an agent. The more trust you have with the person who is about to help you make what is likely one of the largest purchases of your life, the better. Working with a different agent on every house you want to see isn’t going to give you a lot of time or opportunity to build that trust.
- It helps to have an agent who knows what you like and don’t like about the houses you’ve seen in the past, and what you’ve been through during the process. It’s extremely difficult for an agent to give you the best insight and advice, based upon your personal needs, if they haven’t been with you throughout the process.
- It puts more emphasis on the house you want to see, than the agent you’re about to hire. Yes, the house matters! But if you’re more focused on whether or not you like a house, it makes it difficult to truly assess whether an agent is the best one to hire.
You’re Better off Choosing One Agent to Work With Ahead of Time
It’s always been a good idea to put as much emphasis on the agent you’re working with, as finding the perfect home to buy. But now that you’re required to sign an agreement with one to even see a single house, you might want to put more time and thought into who you want helping you navigate the process, representing your best interests, and negotiating the best price and terms for you.
Here are a few tips for finding and hiring the best buyers’ agent:
- Contact an agent as early on in the process as possible. As soon as you find yourself browsing listings online, start thinking about the agent you’ll want to work with as well.
- If there’s an agent you know and trust, reach out to them no matter how early on in the process you are. Don’t think you’re bothering them, or that they’re too busy. They’ll be glad to help you way before you’re actually ready to buy. They’ll also be glad to answer any questions you have about the new agreements.
- If you don’t know an agent, ask friends and family for their recommendations and contact as many as you need to until you find one that you want to hire.
- As soon as you decide on the agent you want representing you, ask them for a copy of their agreement, review it, and ask them any questions you have about it, and sign it once you understand and agree to the terms.
The Takeaway:
Starting August 17, 2024, home buyers will need to sign a written agreement with a real estate agent before seeing any houses. While you can sign a one-time agreement for a single showing, it’s smarter to choose an agent early on and build a trusting relationship. This way, the agent can better understand your needs and guide you through the process, ensuring you get the best advice and representation. So, don’t just focus on finding the perfect house… put some thought into finding the perfect agent, too!
