Buyers, did you know that as of August 17th, a Realtor can no longer show you a property without a signed buyer’s agency agreement?
Due to recent litigation involving the National Association of Realtors, here’s what the NAR settlement means for you moving forward:
Buying a home is one of the largest financial transactions most people will ever undertake. Agents who are REALTORS® are a trusted source of advice and stand ready to help you navigate your home buying journey and make the choices that work best for you. NAR’s recent settlement has led to several changes that benefit homebuyers, and we wanted to clearly lay them out for you.
Here is a break down of what the settlement means for home buyers:
- You will sign a written agreement with your agent before touring a home.
- Before signing this agreement, you should ensure it reflects the terms you have negotiated with your agent and that you understand exactly what services and value will be provided, and for how much.
- The buyer agreement must include four components concerning compensation:
- A specific and conspicuous disclosure of the amount or rate of compensation the real estate agent will receive or how this amount will be determined.
- Compensation that is objective (e.g., $0, X flat fee, X percent, X hourly rate)—and not open-ended (e.g., cannot be “buyer broker compensation shall be whatever the amount the seller is offering to the buyer”).
- A term that prohibits the agent from receiving compensation for brokerage services from any source that exceeds the amount or rate agreed to in the agreement with the buyer; and,
- A conspicuous statement that broker fees and commissions are fully negotiable and not set by law.
- Written agreements apply to both in-person and live virtual home tours.
- You do not need a written agreement if you are just speaking to an agent at an open house or asking them about their services.
- The seller may agree to offer compensation to your agent. This practice is permitted but the offer cannot be shared on a Multiple Listing Service (MLS) — MLSs are local marketplaces used by both buyer brokers and listing brokers to share information about properties for sale.
See more information on the settlement at the National Association of Realtor’s website FAQs page: https://www.nar.realtor/the-facts/nar-settlement-faqs
Now, for the comforting news, The Peevy Team is wholefully dedicated to navigating these new rules set in place while still delivering what has always set us apart.
What Makes The Peevy Team Unique
Since 1998, our family real estate team has been a cornerstone in our local community, guiding buyers and sellers through the intricate journey of real estate transactions. Our unique blend of qualities sets us apart, offering an unparalleled level of service and expertise. Here’s a detailed breakdown of what makes our team stand out.
Deep Local Knowledge
With over two decades of experience in our local market, our team possesses an intimate understanding of its nuances. This deep-rooted knowledge enables us to provide clients with invaluable insights into neighborhood trends, property values, and local amenities. Our expertise ensures that buyers find the perfect home in the ideal location while sellers receive top dollar for their properties.
Family-Oriented Approach
As a family-operated team, we bring a personal touch to our professional services. We understand that buying or selling a home is more than a transaction; it’s a life-changing experience. Our approach is built on trust, communication, and a genuine care for our clients’ needs and dreams. This family-oriented ethos means we treat every client as part of our extended family, offering support and guidance at every step.
Comprehensive Support
Real estate transactions can be complex and stressful–especially along Florida’s coastline when you’re dealing with flood zones, development regulations, complex building codes, and, in some cases, the Florida Department of Environmental Protection (FDEP). Our team offers comprehensive support, simplifying the process for our clients. From initial consultation to closing, we’re there to handle all the details. Our full-service approach includes market analysis, professional staging advice, innovative marketing strategies, negotiation expertise, and thorough transaction management. We strive to make the journey as seamless and stress-free as possible for you your family, and your investment.
Cutting-Edge Technology
In today’s fast-paced market, leveraging technology is crucial. Our team uses cutting-edge tools and platforms to enhance every aspect of the buying and selling process. From virtual tours and digital contracts to targeted social media campaigns, we employ the latest technologies to maximize exposure, streamline transactions, and provide clients with an efficient, modern real estate experience. Our modern technologies are transforming the way properties are showcased, with professional photography, 3D virtual tours, and video tours taking center stage. High-resolution images highlight a property’s best features, while immersive 3D virtual tours allow potential buyers to explore our home listings from the comfort of their own space, providing a realistic and engaging experience that enhances decision-making and speeds up the buying process. Additionally, our professional video tours bring properties to life by combining dynamic visuals with narrative storytelling, allowing buyers to experience the flow and atmosphere of a home in ways static images cannot convey. This innovative approach not only attracts more interest but also sets listings apart in a crowded market, ultimately benefiting both buyers and sellers.
Strong Negotiation Skills
Negotiation is an art and a critical component of successful real estate transactions. It’s no secret that The Peevy Team are seasoned negotiators. We are adept at securing the best possible terms for our clients. Whether representing buyers or sellers, we bring strategic thinking, market insights, and unwavering determination to every negotiation, ensuring our clients’ interests are fiercely protected and their goals achieved.
A Network of Trusted Professionals
Over the many years we’ve served our community as real estate experts, we have cultivated a robust network of trusted professionals, including mortgage brokers, home inspectors, surveyors, appraisers, contractors, and legal experts–just to name a few! This network allows us to connect our clients with reliable specialists, ensuring every aspect of their real estate journey is in expert hands. When you work with us, “our rolodex is your rolodex”.
Commitment to Honesty, Integrity & Community
Our dedication extends beyond real estate; we’re deeply committed to enriching our community as resident’s of Port St. Joe and Florida’s Forgotten Coast. From sponsoring local events and sports teams to supporting charities, we invest in the well-being and growth of the area we serve. This commitment strengthens our connection to the community and enriches our understanding of the local real estate market. Our trusted reputation has been the key to our success. As members of the National Association of REALTORS®, we adhere to a strict Code of Ethics. This commitment builds trust and protects us from legal issues, ensuring we handle sensitive client information with integrity.
In conclusion, our family real estate team combines local expertise, an ironclad reputation built on integrity, a personal touch, comprehensive support, technological savvy, negotiation prowess, a trusted professional network, and a strong community commitment to offer an unmatched real estate experience. For buyers and sellers navigating the complexities of real estate transactions, The Peevy Team’s unique qualities ensure a smooth, successful journey from start to finish.