It is not a law, but rather an MLS rule due to the recent settlement NAR made. The rule goes into effect August 17th. It states that in order to see a home listed in an MLS, prospects must have a signed buyer's broker agreement.
@@jenjabba6210what is your argument? He's correct. It is NOW A LEGAL REQUIREMENT for all who see a property to sign a buyer's agency agreement. You're not getting in the door without signing an agreement. What are you going to do? Knock on the seller's door? They'll tell you to call their broker to book an appointment and if let you in unrepresented, they are in violation of the listing agreement which says that the broker represents the seller's best interests. Entering in the door with no representation is a potential legal disaster for the seller.
@@jenjabba6210 Law: noun 1. the system of rules which a particular country or community recognizes as regulating the actions of its members and which it may enforce by the imposition of penalties. "they were taken to court for breaking the law" 2. a rule defining correct procedure or behavior in a sport. "the laws of the game" A couple more meanings as well but I think you get it now.
Thank you, thank you for time stamping your video😍 Consider recording the role playing you mentioned w/o editing and then offer feedback about what was done well as well as improvements you would suggest.
Thank you for sharing your ideas on how to respond to the consumer on NAR settlement. Great information.
Thanks for the feedback Monica!
Thank you for those negotiating ideas
9:50 Can you please tell me what law requires someone to use an agent to be able to see properties listed in an MLS??? Thank you
It is not a law, but rather an MLS rule due to the recent settlement NAR made. The rule goes into effect August 17th. It states that in order to see a home listed in an MLS, prospects must have a signed buyer's broker agreement.
@JimmyBurgess you stated it was a law
It is not. BIG DIFFERENCE
@@jenjabba6210what is your argument? He's correct. It is NOW A LEGAL REQUIREMENT for all who see a property to sign a buyer's agency agreement. You're not getting in the door without signing an agreement. What are you going to do? Knock on the seller's door? They'll tell you to call their broker to book an appointment and if let you in unrepresented, they are in violation of the listing agreement which says that the broker represents the seller's best interests. Entering in the door with no representation is a potential legal disaster for the seller.
@@jenjabba6210 Law: noun
1. the system of rules which a particular country or community recognizes as regulating the actions of its members and which it may enforce by the imposition of penalties.
"they were taken to court for breaking the law"
2. a rule defining correct procedure or behavior in a sport.
"the laws of the game"
A couple more meanings as well but I think you get it now.
Seems to me that buyers will now simply find their own properties via internet and Open Houses and deal with listing agents only. Thoughts?
Sally, all of that has been available before. It will be an interesting next few months to see how things shake out.
Great stuff as always! Thanks, Jimmy
Thanks Spencer!
Thank you, thank you for time stamping your video😍 Consider recording the role playing you mentioned w/o editing and then offer feedback about what was done well as well as improvements you would suggest.
Thanks for the feedback Judy!
Thank you jimmy love this
Thanks for the feedback!
Good stuff
Thanks! I appreciate the positive feedback.
Great information.
Thanks Maria!
GOLD
Thanks Jamison!