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BUYERS

Keep more money in your pocket

The Impact Of New Regulations On Buyers

In light of recent changes to the National Association of Realtors (NAR) rules, buyers working with a real estate broker or agent are now required to sign a Buyer Broker Agreement (BBA). This agreement outlines the broker’s commission, which is paid by the buyer upon a successful transaction. These changes leave buyers with three key options—and one revolutionary solution from the Future Wise Team.

Option 1.  Independent Approach

Managing the buying process independently requires an in-depth understanding of real estate transactions and a commitment to handling all aspects personally within the specified time frames. Buyers who go this route will need to:

    • Locate properties of interest and coordinate viewings.
    • Assess property values accurately.
    • Draft, negotiate, and finalize offers, contracts, and addendums.
    • Arrange HOA interviews (if required), home inspections, property appraisals, and negotiate for repairs.
    • Communicate and follow up with all the parties involved in the transaction including the seller’s agent, mortgage broker/lender, title company, and closing agent

Each step demands time, attention, and expertise. Overlooking any part of the process could lead to costly mistakes, derail the transaction—or worse, expose buyers to legal risks.

Option 2.  Hire an Attorney

While an attorney can manage the legal aspects, contracts, paperwork and negotiations, they lack the nuanced market expertise, deep understanding of neighborhood trends, and professional connections that real estate agents provide. Also, without a real estate license, attorneys cannot access the MLS system. Furthermore, attorneys come with premium service costs and often leave buyers to handle many critical tasks themselves.

Option 3.  Work with a Traditional Real Estate Agent

Opting for a traditional real estate agent provides full-service support from start to finish. Licensed agents manage all elements of the buying process, including:

    • Property search and setting up the viewing schedule.
    • Assess property values accurately and submit offers.
    • Draft, negotiate, and finalize offers, contracts, addendums, and document handling.
    • Manage Timelines, and coordinate inspections, appraisals, and HOA interviews.
    • Manage communications with lenders, title companies, and all other involved parties.

However, under the new NAR rules, buyers who choose this option must sign a BBA and assume responsibility for the broker’s commission—previously covered by the seller—typically ranging from 2% to 3% of the property’s sales price.

Best Option.   A Smarter Way to Buy

The Future Wise Team redefines full-service real estate, offering buyers all the benefits of a traditional brokerage with two key distinctions:

    1. Innovative Showing Assistance:
      While our team won’t attend property showings in person, we arrange and coordinate all viewings seamlessly. We’re available in real-time via phone or video to answer your questions and provide expert insights, ensuring your experience is as smooth as possible.
    2. Unmatched Savings:
      Our commission rate is just 0.5%, a fraction of the 2%-3% standard rate. This means thousands of dollars in savings without compromising the high-quality service you deserve.

Why Choose the Future Wise Team?

When you work with us, you gain a partner committed to simplifying your home-buying journey and maximizing your financial advantage. We handle the complexities so you can focus on finding your dream home. The only question to ask yourself is:


Is saving thousands of dollars worth more important to you than having an agent point out the kitchen and bathrooms during a showing?

 

With the Future Wise Team, the answer is simple: you deserve expertise, efficiency, and significant savings. Let’s make your home-buying experience smarter and more rewarding.

Finding the Right Properties

Buyers have two primary options for finding properties:

  1. Online Exploration:
    • Pros:  Search for properties that match your criteria at your own pace from the comfort of your home using sites like Realtor.com, Zillow.com, and Homes.com.
    • Cons: Many listings on these sites may be outdated, showing properties that are sold or no longer available. Additionally, providing your contact information can lead to persistent marketing calls, emails, and texts from various realtors and services.
  1. Letting Us Do the Work:
    • Pros: Save time and avoid frustration with accurate, current property listings that match your criteria. By contacting us directly through our website, phone, email, or text, we can perform a tailored search and send you immediate updates on new listings. We respect your privacy, and we will never sell your information or bombard you with marketing messages.
    • Cons: None

Viewing Properties

Once you’ve selected properties of interest:

    • Based on your availability, We will set up the viewing appointments for you.
    • We will equip you with a comprehensive checklist of questions and things you should look out for during the viewings.
    • While viewing the properties you selected, we will always be available to assist you with any questions that may arise.

Making an offer

After finding your desired property, we’ll conduct a Comparable Market Analysis (CMA) to help you decide on the best offer price. This analysis includes reviewing recent sales of similar properties in the area to ensure your offer is competitive yet reasonable. We’ll then prepare and submit the offer, negotiate terms, and handle all necessary documentation to ensure your offer is competitive and meets your needs.

Under Contract

Once the contract is signed, several tasks need to be completed within the specified time frames. The Future Wise Team will provide a clear roadmap and reminders to help you stay on track with tasks such as:

    • Depositing escrow funds
    • Applying for a mortgage
    • Scheduling home inspections
    • Submitting HOA applications
    • undergo HOA interview
    • Schedule the final walkthrough

We’ll be with you virtually to navigate every step toward a successful closing, ensuring you complete all tasks within the deadlines specified in the contract.

Closing

Before closing, you’ll have the opportunity to do a walkthrough to ensure the property is in the expected condition and any agreed-upon repairs are completed. The closing itself involves signing documents, after which the title company or closing attorney will transfer funds and hand over the keys. We guarantee that our team will be fully prepared for the closing and be available to resolve any issues that might arise.

At Future Wise, we’re committed to making your real estate experience seamless and cost-effective. Our virtual support and expertise ensure you’re never alone in the process, even if we can’t be there in person. Let us help you achieve your real estate goals with confidence and ease.

Experience the convenience and savings of our modern realty program, and let The Future Wise Team guide you to a successful closing on your dream home.

Working with the Future Wise Team means you will keep much more of your hard-earned cash in your pocket.

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