The real estate landscape is changing, and staying informed is more important than ever. Recent legal actions have reshaped how real estate agents are compensated, bringing new dynamics to the way home buyers and sellers navigate the market.
In a landmark decision, a federal jury found that the National Association of Realtors (NAR) and several major brokerages conspired to keep commissions high. As a result, real estate agent compensations for both the buyer and seller are undergoing significant changes.
One of the most notable shifts is that home sellers are no longer automatically responsible for paying both their and the buyer’s agent. Now, buyers may need to negotiate and pay their agents directly. Also, buyers will no longer be able to view homes for sale with an agent, without first signing a buyers’ agency agreement. These changes are nationwide, with EVERY brokerage firm, and not optional.
As your dedicated agent, I’m here to help you understand these updates and explore the best strategies for your unique situation. Whether you have questions about agent compensation changes or want to discuss your options about how to buy or sell a home within the confines of the new requirements, I’m just a call or email away. Together, we can ensure your next real estate move is informed and successful.
Warm regards,
Erin