If you’ve been following the news lately, you’ve probably heard that the real estate world just went through its biggest shake-up in decades. As of August 2024, the "old way" of buying and selling homes, where commissions were often a "hidden" part of the listing, is officially over.
But here’s the problem: Most buyers and sellers are still operating on the old playbook. And in this new environment, sticking to old habits can cost you thousands of dollars, lead to legal headaches, or even get you locked out of seeing your dream home.
The short answer? You now have to sign a written agreement before you even tour a home, and commissions are no longer visible on the MLS. This means transparency is up, but so is your responsibility to understand the math.
At Maya Team Inc, we’ve seen it all over our 22 years in the business. We want you to navigate these changes like a pro. Here are the 7 biggest mistakes we’re seeing right now and exactly how to fix them.
1. Touring Homes Without a Signed Buyer Agreement
This is the number one mistake buyers are making right now. Under the new rules, if your agent is a member of the MLS, they cannot take you to see a home (even virtually!) until you have a signed written agreement in place.
The Fix: Don’t wait until you find "the one" to talk paperwork. Sit down with your agent early to review the Buyer Representation Agreement. This document isn’t just a formality; it protects you and ensures your agent is committed to your search.
2. Assuming the Seller "Automatically" Pays the Commission
For decades, buyers were told, "My services are free because the seller pays me." That was never strictly true, but today, it’s a dangerous assumption. Sellers are no longer required to offer a set commission to the buyer’s agent on the MLS.
The Fix: When you find a house you love, have your agent check the off-MLS compensation. Your offer might need to include a request for the seller to cover your agent’s fee, or you might need to budget for it out of pocket.
3. Agreeing to Vague or "Open-Ended" Fees
The new rules require that your buyer agreement must state a specific, objective amount for compensation. It can’t say "whatever the seller offers" or "to be determined."
The Fix: Make sure your agreement lists a clear number, like 2.5%, a flat fee of $8,000, or an hourly rate. If the seller offers more than what’s in your agreement, your agent actually cannot keep the extra. It goes back to you or the seller.
4. Sellers Refusing to Offer Any Buyer Concessions
Some sellers hear "I don’t have to pay the buyer’s agent anymore" and think they’ve just saved 3%. While you can do that, you might be shooting yourself in the foot. Most buyers, especially first-time buyers, are already stretching their savings for the down payment and closing costs. If they have to pay their agent out of pocket too, they might skip your house entirely.
The Fix: Talk to your listing agent about offering seller concessions. Even if you don’t pay the buyer’s agent directly, offering a credit toward the buyer's closing costs can make your home much more attractive and lead to a higher sales price.
5. Not Negotiating the Fee Structure
Wait, did you know that real estate commissions have always been negotiable? The new rules just make that fact front and center. Many people are still accepting the first percentage they see without realizing there are options.
The Fix: Ask your agent about their value proposition. At Maya Team Inc, we believe in full transparency. Ask us: "What services are included in this fee?" or "Do you have different tiers of service?" A great agent is worth their weight in gold, but you should always understand what you’re paying for.
6. Ignoring the "Net Sheet" Scenarios
Sellers often make the mistake of looking only at the "Top Line" offer price. But in 2026, the "Bottom Line" (your net proceeds) is more complex. You might get a $500,000 offer with $15,000 in concessions, or a $485,000 offer with zero concessions. Which is better?
The Fix: Ask for multiple Net Sheets. Your agent should show you exactly what you’ll walk away with under different scenarios. Don't guess; do the math.
7. Committing to an Agent for Too Long (Too Fast)
If you’re just starting out, signing a 6-month exclusive agreement with an agent you just met can feel like a lot of pressure.
The Fix: You can negotiate the duration and scope of your agreement. If you’re not sure yet, ask for a "touring agreement" that covers just one weekend or a specific neighborhood. It’s like a "first date" for real estate. If things go well, you can sign a longer-term agreement later.
What are these "New Rules" anyway?
If you're feeling a bit lost, don't worry. Here is a quick breakdown of the foundational concepts you need to know:
- NAR (National Association of Realtors®): The professional organization that settled a major lawsuit, leading to these changes.
- MLS (Multiple Listing Service): The database where agents list homes. Commission offers are now banned from this platform.
- Concessions: Money the seller gives the buyer at closing to help cover costs (like inspections, repairs, or agent fees).
- Buyer Representation Agreement: A legal contract that establishes the relationship between a buyer and their agent.
Your "New Rules" Checklist
For Buyers:
- Have I interviewed at least two agents to find the best fit?
- Do I understand the exact dollar amount or percentage I am agreeing to pay?
- Have I discussed what happens if a seller refuses to pay any part of the fee?
- Is the "term" (length) of my agreement reasonable for my timeline?
For Sellers:
- Have I seen a "Net Sheet" showing my profit after commissions and concessions?
- Did my agent explain the pros and cons of offering buyer agent compensation off-MLS?
- Am I prepared to negotiate on concessions to help a buyer close the deal?
The Maya Team Inc Advantage
Navigating these changes doesn't have to be stressful. Whether you are a first-time homebuyer or a seasoned seller, having the right team in your corner makes all the difference.
Mona Bottros, our Realtor® and Office Manager, brings over 22 years of administrative and market expertise to every transaction, ensuring no detail is missed.
Rony Velasquez serves as your Real Estate and Mortgage Broker, Realtor®, and Mortgage Loan Originator (MLO). With over 3,000 transactions closed, Rony provides the unique "dual-perspective" of both the real estate market and the mortgage lending world. We don't just find you a house; we make sure the math works for your future.
Ready to make your next move?
Don't let the new rules slow you down. Let’s sit down and create a game plan that works for you.
Contact us today:
- Visit our Community: nas.io/mayateaminc
- Call/Text us: Reach out to Rony Velasquez directly for expert mortgage and real estate guidance.
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