New Rules for San Francisco Home Buyers in 2024: What You Need to Know

Here's a quick and simple primer for new rules for SF home buyers in 2024.

The New Rules in 2024 for San Francisco Home Buyers

Thinking of buying a home in San Francisco? If so, you may have heard some buzz (and maybe some concern) about the recent changes to the rules for home buyers and the NAR Realtor class action lawsuit. But don't worry - the reality is actually pretty straightforward.

What's Changed? Buyer-Agent Agreements Are Now the Norm

The main change to how home buying works in 2024 is that buyer-agent relationships will now be more similar to seller-agent agreements. This means there will be a written contract outlining the key aspects of your partnership with your agent, including:

• Fiduciary duties: We commit to always put your interests first as a buyer
• Exclusivity terms: We agree to work together exclusively for a set period of time
• Compensation: We clearly establish upfront how we're paid for our services

All of these terms will be negotiated and agreed upon transparently at the start of the relationship. No more guesswork or surprises down the line.

At Danielle Lazier / Vivre Real Estate, We’ve Been Doing This for Years

You might be thinking - isn't this just common sense? Shouldn't this have been the standard all along? Well, we agree! In fact, our team at Vivre Real Estate has been signing buyer-broker agreements with our clients for years now.

→ Ahead of the curve since 2002. Meet Danielle Lazier and the Vivre Real Estate team.

We've always believed in being upfront, transparent, and putting our clients' needs first. It's refreshing to see this client-focused approach becoming the norm across the industry.

What the New Rules Mean for You as a San Francisco Home Buyer

So what do the new requirements mean for you as a potential home buyer (slash seller who plans to buy again) in the San Francisco real estate market? A few key things:

1. Clarity on representation: You'll know without a doubt that your agent is committed to you and putting your interests first. No more wondering whose side they're really on.
2. Confidence in compensation: You'll understand exactly how your agent is being paid, and can factor that into your overall budget and negotiations. No hidden fees or last-minute surprises.
3. Committed partnership: With an exclusive agreement in place, you and your agent will be a dedicated team working together to find your dream home. You can feel secure that they're fully invested in your success.

That’s the idea, at least. Ultimately, it also comes down to who feels like the right fit in choosing your San Francisco real estate agent. Once you agree to work together, signing a buyer-broker agreement is the next step.

And whether you're looking for a condo in SOMA, a Victorian in Noe Valley, or a single-family home in Bernal Heights—or some other amazing San Francisco neighborhood—having a clear, transparent buyer-agent agreement will give you peace of mind as you navigate the property hunt and purchase process.

Ready to Find Your San Francisco Dream Home?

If you're thinking of buying a home in San Francisco, we'd love to see if we’re a good fit and discuss your personal situation and goals. At no obligation, reach out today to schedule a free consultation. Contact us here.