MLS Commission Guarantee is GONE

2 BIG Real estate changes that will affect the public:

1. Buyers agent commission is no longer offered in the Multiple listing service. This means for every showing appointment the agent will have to figure out a compensation agreement before every house seen unless the buyer up front lets the agent know that they are willing to cover the compensation. This does not keep the seller/listing from offering to pay the agent-it just cannot be advertised in the MLS....however it can be advertised other ways i.e. sign riders. 
2. If a buyer wants to see a house and they call the agent to see a home a conversation immediately has to happen about this new way of real estate and an agreement has to be signed before entering a property. This is going to be industry standard practice. A buyers agency agreement has to be signed before a showing. This will not affect Open Houses because the agents client is the seller.