📅 2026 Update: Changes in Real Estate Practices

Since the original article was written, significant changes have occurred in real estate practices. These changes affect how agents operate and how buyers interact with them. The earlier article continues further down the page, providing foundational information about hiring an agent.

🏡 New Buyer-Agent Commission Rules

In August 2024, the National Association of Realtors (NAR) made changes to buyer-agent commissions. These changes eliminated automatic commission offers on MLS platforms. Now, buyer-agent commissions are negotiable.

This shift may impact how buyers approach negotiations and the overall cost of purchasing a home.

📝 Written Buyer Agreements Required

As of August 2024, agents must obtain a written buyer agreement before showing properties. This means buyers need to commit to a specific agent before touring homes. This change aims to clarify compensation and expectations between agents and buyers.

💰 Attorney Fees and Closing Costs

For states that require an attorney during the closing process, the fees typically range from $500 to $1,500. Buyers should be prepared for these costs, which are essential for ensuring a smooth closing. Understanding these fees can help buyers budget for the total expenses involved in purchasing a home.

⏳ FHA Resale Restrictions

FHA financing has new resale rules for properties. Homes resold within 90 days of acquisition are ineligible for FHA financing. Properties that are resold between 91 and 180 days may require additional documentation.

Buyers should be aware of these restrictions when considering purchasing and reselling homes quickly.

📌 Key Points Summary

  • 🏡 NAR changed buyer-agent commission rules in 2024.
  • 📝 Agents must have written agreements with buyers before showings.
  • 💰 Attorney fees for closings range from $500 to $1,500.
  • ⏳ FHA financing has new resale restrictions based on timing.

💡 Tips for Navigating Real Estate Transactions

Review your personal situation with your attorney to understand how these changes impact you.

📄 Understand New Commission Structures

With buyer-agent commissions now negotiable, it's important to discuss the commission structure upfront. This can lead to better financial outcomes for buyers and set clear expectations.

🖊️ Get Everything in Writing

Since agents need signed agreements before showing homes, ensure you read and understand the terms. This can protect your interests and clarify what to expect from your agent.

🔍 Research Attorney Fees in Your State

Be aware of the standard attorney fees in your state for real estate transactions. Knowing this can help you plan your budget and avoid surprises during the closing process.

📅 Be Mindful of FHA Resale Rules

If you plan to flip a property, keep the FHA resale rules in mind. This can affect your financing options and overall investment strategy.

🚪 Explore Free Government Resources

Look into resources provided by HUD and state housing agencies. These can offer valuable guidance and support for homebuyers at little to no cost.

💼 Consider Self-Representation

You have the option to represent yourself in a real estate transaction. However, be aware of the risks and responsibilities that come with it.

🏆 Real Estate Services Ranked by User Reviews (2026)

This section highlights services related to real estate transactions that can assist buyers and sellers. The rankings are based on Trustpilot data from October 2026. Keep in mind that scores can change over time, and star ratings reflect only one aspect of customer experience.

🥇 1. Opendoor

Opendoor has been rated 4.0 stars. This service is known for facilitating quick home sales with a dedicated staff. However, reviewers note that final offers can be lower than initial estimates, and unexpected service fees can arise.

🥈 2. Movoto Real Estate

Movoto Real Estate also holds a 4.0 star rating. It is recognized for having knowledgeable agents and providing attentive service. Some reviewers have highlighted unhelpful staff and poor communication as areas for improvement.

🆓 Government and Nonprofit Assistance

The U.S. Department of Housing and Urban Development (HUD) offers resources for homebuyers, including guides and counseling services. Many state housing agencies provide free or low-cost counseling and assistance programs, making it easier for buyers to navigate the process.

🔎 What to Compare When Choosing Real Estate Services

  • 🏠 Commission structures and fees.
  • 📝 Availability of written agreements.
  • 🔍 Customer reviews and ratings.
  • 📅 Response times and communication quality.

❓ Frequently Asked Questions

🤔 What are the benefits of hiring a real estate agent?

Hiring an agent can provide expertise in negotiations, access to listings, and assistance with paperwork. They can help navigate local market conditions and save time during the buying process.

🕒 How do I know if I need an attorney for my real estate transaction?

Whether you need an attorney depends on your state's laws. In some states, attorneys are required for closings, while others allow buyers to complete transactions without legal representation.

🔑 Can I tour homes without an agent?

Yes, buyers can tour homes without an agent. However, since August 2024, agents must have a signed buyer agreement before showing properties.

🏡 What should I do if I want to sell my home shortly after buying it?

You can sell your home soon after purchasing, but be aware of factors like taxes, closing costs, and FHA resale restrictions that may affect your profits.

📈 How have commission structures changed in real estate?

Buyer-agent commissions are now negotiable and are no longer automatically included in MLS listings. This change can impact how buyers approach negotiations with agents.

🏗️ Are there any restrictions on foreign investors buying real estate?

Yes, there are varying laws regulating foreign ownership of real property in different states. These restrictions can include specific reporting requirements and taxes.

⚖️ Recent Cases Related to Real Estate Transactions

Recent court rulings have addressed various aspects of real estate transactions, including commission disputes and buyer rights. These cases connect to the topic of hiring agents and understanding real estate laws.

To explore more recent rulings, feel free to browse more rulings on the news page.

End of October 2026 Update





The hiring of a real estate agent or realtor is an important step in the process of selling or purchasing property. The realtor works as the buyer/seller’s representative, and the representative of their property, and it is the realtor’s job to see that the individual gets either the best return or the best value for their sale or investment. 

The realtor essentially works as a coordinator for all the multiple tasks involved in real estate transactions, and basically holds the hand of the customer as they make the transaction. An important consideration any buyer/seller must keep in mind when selecting an agent is that, while their realtor is given a great deal of responsibility, they ultimately risk very little besides their time, effort, or, to often a very limited degree, reputation. The risk of return is on the customer, thus, it is important that the customer selects a realtor that will be most effective for the needs of their transaction, and be most in tune to what the customer wants.


Being Smart and Hiring an Agent

 


Primarily, it is important to understand what a real estate agent will do for the customer in most general circumstances. In terms of selling a property, the realtor’s primary purpose is to advertise the property, which they do through both traditional listing services, but also now, in modern ages, through the Internet. 

They work in conjunction with the seller in order to provide the best representation of the home, both in written literature and advertising, but also for presentation purposes. The realtor will likely run open houses to show the property to as many individuals at a time as possible, and will work as the point person for the property. Nearly always, the realtor will place a sign outside the property advertising its sale price and providing the realtor’s contact information.


 


Advertising a property usually represents the realtor’s largest expenditure of resources, and in making this risk, they are entitled to exclusivity in brokering the eventual sale of the property. Thus, a contract is usually drawn up between the realtor and the seller to insure the exclusivity. These contracts can always later be dissolved with relative ease if the relationship is not beneficial to either party. However, in real estate sales, lost time is often lost money in terms of property cost and devaluation in market worth, such as which occurs the longer a property is on the market.


 


It is the realtor’s responsibility to also negotiate on behalf of the seller, and perform background checks on potential buyers, though they are entitled to obtain final approval on the sale from the seller. The realtor also ensures that all aspects of the closing of the sale proceed properly, even though they, themselves, do not perform the legal transfer of property (which is usually done by attorneys). The realtor traditionally receives a commission of the sale and of the purchase of a new property, usually five percent, but that is often open to negotiation. In terms of purchasing a property, the realtor will guide the seller in finding an appropriate property, and is tasked with, again, negotiating the final price on behalf of the client.


 


As can be seen, a realtor is a demanding and important job in real estate transaction, and, thus, it is important to find the right one. As mentioned, most real estate transactions yield the best results for all when they are completed with haste, so time is important, but so is caution. Often approaching numerous Realtors is advised, and sorting out which is the best for the customer is important. While one certainly does not want to pay an exorbitant commission, it is important to note that that a fair commission is important, because that will ultimately be the realtor’s source of revenue. The better the deal they hope to make, the better they will work on the behalf of the customer and their property.


 


Overseeing and maintaining communication with the realtor is vitally important, especially when in the stages of purchasing a property. One of the major criticisms of the realty system is the lack of oversight possible in negotiating by a realtor on purchasing a property. Since a realtor makes a commission off of a purchase, the incentive is there to often not negotiate for the best price on behalf of their client. Therefore, trust and dependability is an important part of the relationship, especially in the later stages of the relationship.


 


In the modern Internet era, it really has never been easier to research a realtor or the services their offices provide. Almost all Realtors are online, and therefore, one has ready access to determine the effectiveness of their salesmanship and the proliferation of their advertising. 


However, traditional means, such as success, word of mouth, and initial impressions are important as well. Anything that helps a customer feel comfortable in their decision is crucial, because in selling or buying a property, having the right realtor is perhaps the biggest and most important step one can take.