The Buyer Rep Myth: What You Need to Know Before Your Next Home Tour

Host: Welcome to Market Matters with WVMLS, where we get real about real estate in the Willamette Valley. I’m Dave Pautsch of RE/MAX Integrity. Our local Willamette Valley Multiple Listing Service, or WVMLS, is a powerful but often misunderstood resource. It’s the centralized marketplace bringing buyers and sellers together since 1949.

Today, we're continuing our six-week series on busting the myths in real estate. And today's myth is that a real estate agent can show a buyer homes without a contract. In fact, starting in January 2025, House Bill 4558 requires a written buyer representation agreement before an agent can work with a buyer.

That means before the broker can start showing you homes or giving you advice, you have to sign a buyer representation agreement. However, this is not to force you into a premature commitment. Instead, it's actually a boon to buyer's choice.

Through these contracts, buyers can now negotiate with their agent how long they want to work together, what the agent’s commission will be, and even gives the buyers the opportunity to discuss whether they’ll pay their broker themselves at closing or if it might need to be included as a seller concession.

Importantly, a buyer representation agreement also clearly lays out what your agent is committed to doing for you.

The truth? This agreement doesn't tie your hands. It enforces buyer choice and ensures your agent is fully committed to helping you make one of the biggest decisions of your life.

Thanks for joining us for Market Matters with WVMLS, where we get real about real estate in the Willamette Valley. I’m Dave Pautsch with RE/MAX Integrity. Join us again next Monday in the noon hour as we tackle the myth that an online estimate can accurately determine your home’s value.

Until then, learn more at wvmls.com.