Published On Apr 29, 2024
As of Jan. 1, 2024, Washington state's agency law requires agents to have a written agreement with buyers (as well as sellers) to spell out the exact scope of the services provided by the agent, as well as the compensation the client has agreed to pay them in return.
The purpose of this law is to educate home buyers on what the service provided by the real estate broker and brokerage will cost.
Right now too many homebuyers are signing agreements with brokers without interviewing other agents. It's important to interview 2 to 3 real estate brokers before signing a written agreement.
All real estate commissions are negotiable and it's important to know what you are getting for your money when buying a home.