Exciting Updates for Home Buyers & Sellers – What You Need to Know About The NAR Settlement! 🌟
Hello Everyone!
We have some thrilling news that will make your real estate journey even smoother! 🎉 Whether you're buying or selling a home, these updates from the National Association of Realtors are designed to help you navigate the market with confidence.
For Home Sellers:
Starting August 17, significant changes are coming your way thanks to a recent NAR settlement. Here’s what you need to know:
- Compensation Choices: You still have the option to offer compensation to buyer brokers to make your listing stand out, but it’s completely up to you.
- Transparency is Key: Your agent will need to clearly disclose any payments to other brokers in writing before finalizing anything.
- Listing Flexibility: While MLS can't include compensation details, your home can still be promoted through social media and other websites.
- Concessions Still Welcome: You can offer buyer concessions, like assistance with closing costs, on MLS!
What hasn’t changed:
- Your REALTOR® remains committed to your best interests and transparent about all compensation.
- You have the power to negotiate and choose what works best for you.
To read more on how the NAR settlement affects Home Sellers in more detail, read about it here.
For Home Buyers:
Great news for you too! Starting August 17, the NAR settlement brings some fantastic updates:
- Written Agreements: You’ll sign a written agreement with your agent before touring homes, ensuring clarity on what’s included and how much it costs.
- Clear Compensation: Your agreement will clearly state your agent’s compensation, so there are no surprises!
- Negotiability: Everything is negotiable, and broker fees aren’t set by law—so you have control!
What hasn’t changed:
- Your REALTOR® is dedicated to helping you with transparent discussions about compensation.
- You still have choices and flexibility, so work with your agent to find what’s best for you!
To read more on how the NAR settlement affects Home Buyers in more detail, read about it here.
For more detailed information, reach out to me directly at 858-945-2692 if you have any questions.check out the resources available at facts.realtor or
Here’s to a smooth and successful real estate journey! 🏡✨
Copyright © National Association of Realtors. All information provided is based on NAR fact sheets and updates.