Click Here Video: Law changes what homebuyers need to do before they can look at houses
New Iowa Real Estate Law is effective today, July 1 2024.
Buyers can No Longer tour a home or property without a Buyer’s Agreement signed, this includes virtual tours.
This Video explains the changes. If you plan to buy a house soon or in the next 6 months, interview some local agents and educate yourself on the home-buying process. You should hire a REALTOR before you feel the urge to start touring homes and be pre-approved for a home loan. Working with the right experienced Agent/REALTOR vs. the wrong one will make all the difference in the experience Buyers will have and could cost them or save them a lot of time, money, frustration, or other issues. Nobody wants to regret the home they bought, the amount of money they paid for the home, not knowing what their rights were during the process, or not having the representation that they needed and deserved.
Each state may be different but most buyers will likely be required to sign a Buyer’s Agreement before they can tour homes regardless of what state they’ll be shopping in. This is a BIG change and buyers and sellers are confused for many reasons however, it’s clear that so far third parties such as Zillow, Trulia, Redfin, Clever, homes.com, REALTOR.com and many others (there are a lot of them) don’t seem to be doing their part to educate the public honestly and get this information in front of consumers or the public. Sites shouldn’t allow Buyers to click a Button to be connected to an Agent (or REALTOR) or to schedule a tour without first making them aware that laws have changed and that they’ll need to meet either in person, virtually or via phone to have a consultation with a local Agent that can explain the Buyer’s Agreement and get it signed before any homes can be toured because it’s the law. Instead, it feels like these third parties might want REALTORS to look like the bad guys as we try to explain why the third party didn’t tell them about the requirements and crushing their hopes of seeing the home that just caught their eye (at least temporarily). It’s not a good way to start your journey with a potential client and it’s not a good way to build trust. It’s important that consumers and the public understand that REALTORS can’t control what these sites say, do, don’t do, or post.