Following Introduction Of New Homebuying Guidelines, Oklahoma Realtor Says Rules Protect Buyers And Sellers

The process of buying and selling a home in Oklahoma will be changing, according to new guidelines from the National Association of Realtors.

Stemming from a court settlement, realtors say it is a topic of controversy for real estate agents in the Oklahoma City metro.

As part of the new guidelines, prospective homebuyers must sign a buyers agreement before entering the home they desire.

An Oklahoma City metro real estate agent said the new rule may seem odd, but it must be followed to protect both buyers and sellers.

"This is an opportunity for us to say 'these are the services we offer, this is how much we're getting paid,' real estate agent Becky Seda said. "We can definitely ask the seller to cover this for you, as we've done frequently in the past, but it gives them the opportunity to have that conversation upfront."

Seda says a buyers agreement has always been encouraged, but never enforced.

Seda said she wants Oklahomans to ask plenty of questions when buying a home, and to be purposeful about who they’re hiring as an agent before entering a contractual bind.

Another change to the guidelines, the way sellers choose to cover an agent's fees will now look different, as it moves to the negotiation stage and is not advertised.

Seda said she has a positive outlook about the future within the real estate industry, and said she feels the changes will increase transparency with clients.

Seda also said real estate agents will face hefty fines if they do not follow these new guidelines.