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Whats the new 2024 rule on buyer broker contracts?
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Hi,

We're currently searching for a house in the Pasadena area (August 2024). We expect it might take 3-12 months to find our ideal house.

We love our buyer broker, and will have no problem paying her a fair commission. However, with the changes going into effect August 17, 2024, we ARE hoping to be able to negotiate her commission a bit.

However, the broker is trying to get us to sign a contract right away. She has told us "no buyer will be able to tour a property with their agent directly without a signed buyer/broker representation." She said this only applies to private showings, not scheduled open houses.

She HAS, in the past few months, gone on a couple of private showings - without a signed agreement.

Does anyone know if this is true? Again, I'm not trying to get something for nothing. I'm just not quite ready to sign an agreement given the uncertainty of the new rules.

Thanks

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3 months ago