Kristin Burns, Realtor on the Future of Real Estate and How Buyers Will be Choosing Their Realtor

I was recently a guest expert on a "Noon Time Knowledge" session on Real Estate in a Changing World with Carradice Wealth Advisors located in Woodbridge, VA. I will be presenting clips from this session in the days to come.
Starting in mid-August, all buyer’s agents are required to have a buyer representation agreement signed by the buyer. Here in Northern Virginia, these rules have already essentially been put into effect. This agreement will detail how the buyer’s agent will be compensated. While the seller may continue to pay the commission, it will now require negotiation between the buyer and buyer’s agent and the listing agent and seller. It’s a significant shift in how real estate transactions are handled and I believe it will change how buyers choose their Realtor. I think buyers are now going to interview more than one agent and make sure that the agent that's serving them is the right fit and someone who they trust for their expertise. In my opinion ,going forward ,I think home buyers will "get what they pay for" in choosing a Realtor. Hone buying is a personal decision and a major life decision and I think going forward Realtors will have to show their value. The ones that can't, may find the industry will not be as worthwhile for them.
So after 21 years, we are working with big changes coming for the industry. Look for more on my interview session in the coming days. Thanks for watching and don't forget to like and subscribe!

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Insightful!