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The National Association of REALTORS®' new rules have been in effect for nearly six months, but that doesn't mean agents fully understand them. Buyer agreement requirements have been a particular source of angst for some, and questions remain about exactly how — and when — to use them in accordance with the settlement rule changes.
Enter Lesley Muchow, NAR's general counsel. In a recent interview with Real Estate Insiders Unfiltered, she broke down buyer agreement requirements, highlighted several do's and don'ts, and answered common questions like, when exactly does an agreement have to be signed? What has to be included? And how do touring agreements work?