New Real Estate Rule Traps Buyers in Costly Contracts Before Home Tours

A 2024 legal settlement from the National Association of Realtors requires buyers to sign representation agreements before touring homes, aiming to increase transparency. However, the rule has led to cases like Kirsten Ganas in Pennsylvania, who was locked into a year-long contract with an agent she wanted to fire, facing early termination fees or owing thousands in commissions. Consumer advocates argue the practice is unfair, as buyers are pressured to sign without knowing the agent's quality. The article explains the old commission model where buyers paid indirectly through seller fees, and how the new rules shift risks onto buyers.