Why Are We Asking You to Sign a Written Buyer Agreement?

If you're a homebuyer working with us—Don and Cyndi Shurts at Keller Williams Advisors Realty—here's what you need to know. We're real estate professionals who are ethically bound to always act in your best interest. And as of August 17, 2024, there’s a new nationwide rule: you’ll need to sign a written buyer agreement once you’ve chosen the agent you want to work with. Whether you're buying in Beavercreek, Centerville, Fairborn, or anywhere across Ohio, this applies. Let us break it down for you.

 

What Exactly is a Written Buyer Agreement?

 

It’s an agreement between you and us, your real estate professionals. It spells out the services we’ll provide and how we’ll be compensated. Transparency is key, and this document makes sure both of us are on the same page from the get-go.

 

Why Do I Have to Sign an Agreement?

 

This new requirement stems from a settlement the National Association of REALTORS® reached regarding broker commissions. While some states have used these agreements for years, it's now a nationwide rule as of August 17, 2024. So even if you haven’t encountered it before, it’s something you’ll need to sign moving forward.

 

Can We Negotiate the Agreement?

 

Absolutely! You’re not locked into a standard form. You can negotiate the length of the agreement, the services you want, and how we get paid. Compensation isn’t set by law and can be structured however we agree—whether it’s a flat fee, hourly rate, or percentage. Just make sure it’s clear in the agreement.

How Does This Agreement Benefit You?

 

By signing a written buyer agreement, we’re both on the same page about what we’ll do for you and what compensation looks like. This clarity helps avoid confusion, making sure everyone knows the expectations from the start.

 

When Do I Need to Sign the Agreement?

 

You’ll be asked to sign before we start touring homes together, either in person or virtually. If you’re just stopping by an open house or casually inquiring about our services, no need to sign just yet.

 

Do I Have to Pay You Directly?

 

While the agreement lays out how we’ll be compensated, it doesn’t mean you're always paying us out of pocket. Often, we negotiate to have the seller or their agent cover our commission. This is something we’ll work out together.  All commissions are actually paid to the brokerage, Keller Williams Advisors Realty in our case.  Then Keller Williams pays the agent directly.

 

Does the Agreement Define Our Relationship?

 

No, it doesn’t lock you into any specific type of relationship. You’re free to work with us in a way that fits Ohio state law and what you're comfortable with, whether that’s exclusive representation or something else.

 

Can I Change or Cancel the Agreement?

 

Yes, if you need to adjust the terms or even end the agreement, we can talk about it and figure out what makes the most sense. Just make sure to read the agreement carefully and ask questions about any exit conditions.

 

Whether you're buying in Kettering, Springboro, or anywhere across Ohio, we're here to make this process as smooth and transparent as possible. Ready to get started? Let’s talk!