Get informed, Michiana!

Several clients have asked about the changes in the market due to the recently proposed NAR settlement you’ve heard about in the news. How does it affect you and what’s a Buyer Broker Contract?

     First, the state of Indiana will require, as of July 1, that ALL real estate licensees work under contract with buyers, even those agents who are not REALTORS. Other states may follow. If you, as a buyer, start working with an agent who doesn’t require one, RUN AWAY! They don’t know what they’re doing and you’re at risk by their lack of knowledge. 

     Next, Broker commissions are not set by law and never have been. Commissions between sellers and listing agents and between buyers and buyer agents are FULLY negotiable. Call us at Inspired to explain these real estate contracts when the time comes.

     A “Buyer’s Exclusive Agency Contract” explains the responsibilities of your agent and the breakdown of how they are compensated for their services. At Inspired, we charge a professional fee for the work we do for you, much like an attorney or physician. We set that negotiable fee based on the sale price. As your agent, we owe you fiduciary duties, including confidentiality, and we’re obligated to work for YOUR best interests, not our own.

     Thanks for reaching out when you’re ready to buy or sell, for trusting us with the largest financial transaction in your life, and for referring friends and loved ones in need of the same. Remember, at Inspired, it’s all about you!