Before, buyers didn’t have their own agents in real estate transactions. In the early 20th century, buyers had to visit multiple offices or drive around town searching for “For Sale” signs, which was highly inefficient. The National Association of REALTORS® (NAR), founded in 1908, changed this in the early 1960s with the introduction of the Multiple Listing Service (MLS), allowing brokerages to share listings and simplifying the home-buying process. However, agents known as sub-agents still legally represented the seller, often leading to confusion and potential disadvantages for buyers.
It wasn’t until the early 1990s that buyer’s agency was formally established, allowing agents to represent the buyer’s best interests. This development significantly reduced confusion and better protected buyers. The shift to online MLS systems also further streamlined the process, providing up-to-date information and saving resources. As technology continues to advance, the real estate industry will undoubtedly see even more innovations.
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Shirin Rezania Ramos | 858.345.0685 | www.shirinramos.com | Compass, DRE 0203379
