National Association of REALTORS® Settlement and What it Means to You
Posted by Paul Burrowes on
Inside this Article:
- Seller & Buyer Agents
- Just the Facts
- Existing & New Contracts
The recent settlement by the National Association of REALTORS® (NAR) introduces significant changes aimed at benefiting homebuyers during the purchasing process. Starting August 17, 2024, buyers must sign a written agreement with their agents before touring homes. This agreement will specify compensation details, which must be clearly disclosed, objective, and not open-ended. Agents will be restricted from earning more than agreed upon, and it will emphasize that fees and commissions are negotiable. While this may seem like a new requirement, similar practices already existed in some regions. Despite these changes, REALTORS® remain…
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