As your trusted real estate adviser, I want to keep you informed regarding industry changes resulting from the recent National Association of Realtors® (NAR) settlement.

As of August 17, 2024 the way commissions are disclosed and paid will change promoting greater transparency and clarity.

WHAT YOU NEED TO KNOW

Compensation offers to agents representing a buyer will be negotiated between the buyer and their agent instead of being listed on the multiple listing service (MLS)

Buyers must sign a written agreement with an agent before touring homes listed in the MLS.

SELLERS

You have the option to offer compensation to an agent representing a qualified buyer.

A practice that has always been negotiable and beneficial for both parties.

Offering compensation can make your property more attractive to a wider pool of buyers, keeping it competitive and facilitating a faster sale.

BUYERS

You will need to sign a Buyer Representation Agreement before viewing properties with your agent, whether in person or via virtual tours.

Navigating the real estate market and the purchase of a home without professional representation can lead to unnecessary challenges and missed opportunities.

Whether you’re buying or selling, these changes highlight the importance of having a knowledgeable and experienced Realtor by your side.

Feel free to contact me anytime if you have any questions regarding these new changes or any real estate matters.

Cheers,

Pat