How New Real Estate Rules Impact Arizona Buyers and Sellers

By The Goodman Taylor Team

We want to help you live the best life you can, one where you find your dream home, move to the perfect location, or receive a life-changing deal. We’ve done this for countless clients in the past, and we’d love to do it for you too. After all, there’s a reason why we’re one of the most trusted real estate teams in our area.

Are you wondering how recent changes to real estate commissions might affect your journey in Arizona? Today, I will explain how recent settlements between the National Association of Realtors and several lawsuits have changed the way real estate transactions are conducted in our state. Whether you’re considering buying or selling, being up-to-date about the recent changes is crucial in meeting your real estate goals smoothly. Here’s what you need to know:

• Increased transparency. Commissions have always been negotiable, but traditionally, the seller would offer a certain commission amount, and the listing agent would split it with the buyer’s agent. Now, thanks to new rules, real estate transactions have become more transparent. As a buyer or seller, you’ll now have more insight into how real estate agents get paid, where those commissions come from, and your options for paying them. When working with buyers, I sit down with them before viewing homes to clearly explain my responsibilities as their agent and how I’m compensated.

• Written agreement. Before you start viewing homes with an agent, you will have to sign a written agreement that clearly outlines the services that’s being offered and how much you’re paying for. If you work with me, this document will specify my fees, such as if it comes from the seller, the broker, or directly from the buyer. It’s all about making sure that everyone is on the same page and avoiding unexpected surprises.

If you’re planning on buying or selling real estate in Arizona soon, make sure to reach out to a reliable and knowledgeable agent who will guide you through these changes. If you have any questions, call us at (480) 382-8093. We’d love to get on the phone with you or meet you in person to talk about your real estate goals. We look forward to working with you!