As a Buyer’s Agent we have new rules and now we have revised Rules!! Here is the basics of what we now need to do and how this affects you, the Buyer!!
I can’t predict the future, I have to wait for it like everybody else.
– Niels Bohr
Check out my Podcast by Clicking on the Image Above! How all the new rules affect Buyers!
The Basics of the Old Rules, New Rules and Revised Rules!! (as of today in Arizona)
Prior to August 2024 Sellers could provide an amount that they felt comfortable providing to a Buyer’s Agent prior to seeing the property on the MLS (Multiple Listing Service)
Prior to August 2024 Buyer’s Agents could show a property without a Buyer Broker Agreement (it was allowed, but optional, depending on Brokerage
After around August 1, 2024 (varied by location) Buyer Broker Agreements became a necessity for which we needed to have signed by the Buyer’s Prior to seeing a property and then submitted to our Broker for Review. We needed to communicate in writing our fees and have all parties to the Buyer Broker Agreement agree to them in writing prior to seeing properties.
Between August 1, 2024 and January 31, 2025 Sellers were able to authorize their Agents to fill out a form called a CABB to provide to the Buyer’s Agent stating the amount they felt comfortable providing to the Buyer’s Agent should they get under contract. (this seemed to cause confusion-so it was stopped)
After August 1, 2024 (varied by location) a form called the SCA – Seller Compensation Agreement was used to have the Buyer request from the Seller an amount or percentage to pay their Buyer’s Agent. Prior to January 31, 2025 this could be used in addition to the CABB, which is what caused confusion. Now if the Buyer is requesting the Seller make a contribution toward commissions to their Buyer’s Agent, the SCA form is how it is done.
There are a lot of other rules regarding the new practice so please do not hesitate to call me 480-809-5853 or contact your local Realtor® and get the latest scoop on what the process is!
