Buyers BEWARE!

As of 2024, new regulations from the National Association of Realtors now require buyers to sign a buyer agency agreement before they view homes. The agreement ensures transparency between the buyer-seller relationship by outlining the agent’s responsibilities to the buyer, any potential fee or commission, the duration of the agreement, and whether the agent expects compensation from the buyer or seller. However, BE CAUTIOUS WHEN SIGNING!! Look out for the following when signing these agreements:

Please do not sign the form without an exit clause. You MUST be able to terminate the contract if and as needed.

Do not sign a long term contract without the exit clause. Sign for a short period only, max 3 months. Never sign a full year contract, it's not necessary to do so. You can always extend it if you are happy with the agent you are working with.

 Never sign for the entire NJ or even multiple counties. Know which area the agent is an expert in and only sign for those areas.

You should be able to trust your agent with confidence, DO NOT trust blindly and trusting blindly without even knowing who you are about to sign with and how long you will be tied for without any exit clause is an absolute NO NO.

On Track Realty, serving clients with honesty and integrity since 1994. Ready to buy or sell your home or an investment property, residential or commercial? We are here to help you, call us at 732.494.2211. Track us at www.ontrackrealty.com for listings, informational blogs, current value of your home, etc etc.

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