FAQs for Home Buyers

FAQs for Home Buyers with New Changes

1. What does the new rule about compensation offers mean for home buyers? 

       ○ Starting August 17, 2024, offers of compensation will no longer be available on MLS listings for Realtors to review and agents will communicate directly to find out what the commission offering is. Sellers can still offer buyer concessions, such as covering closing costs, directly on the MLS.

2. How will these changes affect my home-buying process? 

      ○ You will need to discuss compensation with your real estate agent off-MLS. Additionally, you will be required to sign a written agreement with your agent before touring any homes. 

3. What is an MLS, and how does it work? 

      ○ MLS stands for Multiple Listing Service, a database used by real estate brokers to share information about properties for sale. It helps facilitate cooperation between brokers and provides buyers with access to a wide range of listings.

4. Why are written agreements required before touring homes? 

      ○ The new rule aims to ensure transparency and clarify the terms of the relationship between buyers and their agents. It helps protect both parties and ensures that buyers understand the services their agents will provide. 

5. What should I expect in a written agreement with my real estate agent? 

      ○ A written agreement will outline the services your agent will provide, the terms of compensation, and any other relevant conditions. It ensures that both parties have a clear understanding of their roles and responsibilities. 

6. Can I still receive concessions from sellers on the MLS? 

      ○ Yes, sellers can still offer buyer concessions, such as assistance with closing costs, directly on the MLS. These concessions are separate from compensation offers. 

7. How do I negotiate compensation with my real estate agent off-MLS? 

     ○ Discuss the terms of compensation directly with your agent. They can guide you through the process and help you understand what is standard in your market. 

8. Will these changes increase my costs as a home buyer? 

      ○ Not necessarily. While the process for negotiating compensation has changed, it doesn’t inherently increase costs. The overall expense will depend on the terms you negotiate with your agent and any concessions offered by the seller. 

9. What happens if I don’t sign a written agreement with my agent? 

      ○ Your agent will not be able to show you homes until a written agreement is in place. This rule is designed to ensure clarity and protect the interests of both buyers and agents. 

10. Are there any exceptions to these new rules? 

      ○ As of the implementation date, these rules will apply universally to all MLS Participants and their clients. Always consult with your real estate professional for any specific circumstances that might apply to your situation

11. Can you help me buy and sell a home at the same time in San Diego?

      ○ Yes, I specialize in helping clients buy and sell simultaneously in the San Diego real estate market. Whether you’re upsizing, downsizing, or relocating, I create a seamless plan that coordinates timelines, negotiations, and contingencies so you can transition smoothly.Yes, I specialize in helping clients buy and sell simultaneously in the San Diego real estate market. Whether you’re upsizing, downsizing, or relocating, I create a seamless plan that coordinates timelines, negotiations, and contingencies so you can transition smoothly.

12. What are common closing costs for buyers in San Diego?

      ○ Common closing costs for San Diego homebuyers include loan origination fees, title insurance, appraisal, escrow, and prepaid property taxes and insurance. These typically range from 2% to 3% of the purchase price. I connect buyers with trusted San Diego lenders to get accurate estimates and avoid surprises. Common closing costs for San Diego homebuyers include loan origination fees, title insurance, appraisal, escrow, and prepaid property taxes and insurance. These typically range from 2% to 3% of the purchase price. I connect buyers with trusted San Diego lenders to get accurate estimates and avoid surprises.

13. Do you work with both buyers and sellers?

      ○ Yes, I work with both buyers and sellers in the San Diego real estate market. Whether you’re purchasing your first home, moving up, downsizing, or selling a long-time family property, I provide expert representation tailored to your goals. Yes, I work with both buyers and sellers in the San Diego real estate market. Whether you’re purchasing your first home, moving up, downsizing, or selling a long-time family property, I provide expert representation tailored to your goals.

14. Do you work with new construction properties?

      ○ Yes, I represent buyers interested in new construction homes and developments throughout San Diego. I help you compare builder incentives, review contracts, and ensure you’re protected during the entire building and closing process.

15. What’s your process for helping clients relocating to San Diego?

      ○ My relocation services include virtual consultations, customized neighborhood tours, school district research, and referrals to trusted lenders and contractors. I help out-of-area buyers feel confident and informed every step of the way.

16. What are the key factors to consider when buying in San Diego?

      ○ Buyers should consider school districts, commute times, HOA rules, walkability, future development plans, and proximity to nature or coastlines. I help San Diego buyers prioritize lifestyle needs and long-term value when choosing a home.

17. How do you handle multiple offer situations?

      ○ I guide sellers in evaluating not just price but terms, contingencies, and buyer qualifications. For buyers, I craft competitive offers that stand out, using escalation clauses, short timelines, or flexible terms when appropriate.

18. How often will you communicate with me during the buying or selling process?

      ○  I believe in proactive, transparent communication. Expect weekly updates minimum, and more frequent check-ins during negotiations, inspections, and closing. I’m also available via call, text, or email seven days a week.

19. Do you offer a free initial consultation?

      ○ Yes, I offer a complimentary consultation for anyone interested in buying, selling, or investing in San Diego real estate. This is a no-pressure conversation to explore your goals and how I can help.

20. What is the process of buying a home in California?

      ○ The process includes pre-approval, home search, making an offer, inspections, appraisal, and escrow. I guide you from start to finish, simplifying paperwork and protecting your interests at every stage.