As the Sarasota real estate market evolves, it's essential for buyers to stay informed about current practices. One significant change coming into effect on August 17, 2024, involves written buyer agreements. As an experienced real estate agent specializing in Sarasota's luxury market, I'm here to clarify what these changes mean for you, especially when attending open houses.
Open Houses: No Agreement Needed
If you're simply browsing open houses in Sarasota without a dedicated agent, you will not be required to sign a written buyer agreement to tour the property. Feel free to explore open houses at your leisure and gather information. Similarly, if you are simply asking questions to an agent about their services, you will not be required to sign a written agreement.
When Do Buyer Agreements Come into Play?
A written buyer agreement becomes relevant when you begin actively "working with" an agent to find a home, and before your agent shows you your first house together.
What Does "Working With" an Agent Mean?
"Working with" an agent means they are actively providing services to help you find a home. This includes tasks like:
-
Identifying properties that match your criteria.
-
Arranging private showings for you.
Simply attending an open house hosted by an agent or having a conversation with them about the market doesn't constitute "working with" them in this context.
What Constitutes a "Tour"?
In the context of these new guidelines, a "tour" occurs when you, as a buyer actively working with an agent, physically enter a home for sale. It also includes situations where your agent enters the home on your behalf or provides you with a live, virtual tour.
The Purpose of Buyer Agreements: Clarity and Transparency
Written buyer agreements are designed to ensure clarity and transparency in the agent-buyer relationship. They clearly outline:
-
The specific services your agent will provide.
-
The agreed-upon compensation for those services.
These agreements are fully negotiable, and you should never sign anything you don't fully understand or agree with. You are in control of this process.
Navigating the Sarasota Market with Confidence
With my in-depth knowledge of Sarasota's neighborhoods, from the waterfront estates of Longboat Key to the vibrant communities of Lakewood Ranch, I can guide you through every step of your home-buying journey. I'm committed to providing transparent, professional, and personalized service, ensuring you feel confident and informed throughout the process.
Have Questions? Let's Connect
If you have any questions about open houses, buyer agreements, or the Sarasota real estate market in general, please don't hesitate to reach out.
