2024 NAR Settlement - Revision history

Marcin: /* Is the NAR a Scam? */

2025-04-06T04:23:40Z

Is the NAR a Scam?

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 *Inflated sales prices have contributed to the demise of the American dream of owning a SFH (single family home). Unsavvy buyers and sellers view the transaction fees as “baked in” or “free” but if both sides could open their eyes, 5.5% of the sales price can be put back into their wallets [https://www.reddit.com/r/RealEstate/comments/1hjbntp/are_sellers_really_still_paying_buyers_agent_fees/]
 *Sellers know that if they don't pay.. the buyers simply move on to the next house. [https://www.reddit.com/r/RealEstate/comments/1hjbntp/are_sellers_really_still_paying_buyers_agent_fees/]
 =Is the NAR a Scam?=

Marcin: /* Musings */

2025-04-06T03:57:24Z

Musings

← Older revision		Revision as of 03:57, 6 April 2025
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	=Musings=		=Musings=
	*Inflated sales prices have contributed to the demise of the American dream of owning a SFH (single family home). Unsavvy buyers and sellers view the transaction fees as “baked in” or “free” but if both sides could open their eyes, 5.5% of the sales price can be put back into their wallets [https://www.reddit.com/r/RealEstate/comments/1hjbntp/are_sellers_really_still_paying_buyers_agent_fees/]		*Inflated sales prices have contributed to the demise of the American dream of owning a SFH (single family home). Unsavvy buyers and sellers view the transaction fees as “baked in” or “free” but if both sides could open their eyes, 5.5% of the sales price can be put back into their wallets [https://www.reddit.com/r/RealEstate/comments/1hjbntp/are_sellers_really_still_paying_buyers_agent_fees/]
			*Sellers know that if they don't pay.. the buyers simply move on to the next house. [https://www.reddit.com/r/RealEstate/comments/1hjbntp/are_sellers_really_still_paying_buyers_agent_fees/]

	=Is the NAR a Scam?=		=Is the NAR a Scam?=

Marcin: /* Effect */

2025-04-06T03:53:42Z

Effect

← Older revision		Revision as of 03:53, 6 April 2025
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	*2025 is early to tell, but so far nothing much changed in commissions % for buyer's and seller's agents[https://www.realestatenews.com/2024/11/14/commissions-relatively-unchanged-following-nar-settlement].		*2025 is early to tell, but so far nothing much changed in commissions % for buyer's and seller's agents[https://www.realestatenews.com/2024/11/14/commissions-relatively-unchanged-following-nar-settlement].
	*''Buyers always paid the fees… sellers just rolled it into the sales price and buyers paid it through their mortgage.'' -[https://www.reddit.com/r/RealEstate/comments/1hjbntp/are_sellers_really_still_paying_buyers_agent_fees/] - is that how it still works?		*''Buyers always paid the fees… sellers just rolled it into the sales price and buyers paid it through their mortgage.'' -[https://www.reddit.com/r/RealEstate/comments/1hjbntp/are_sellers_really_still_paying_buyers_agent_fees/] - is that how it still works?

			=Musings=
			*Inflated sales prices have contributed to the demise of the American dream of owning a SFH (single family home). Unsavvy buyers and sellers view the transaction fees as “baked in” or “free” but if both sides could open their eyes, 5.5% of the sales price can be put back into their wallets [https://www.reddit.com/r/RealEstate/comments/1hjbntp/are_sellers_really_still_paying_buyers_agent_fees/]

	=Is the NAR a Scam?=		=Is the NAR a Scam?=

Marcin: /* Effect */

2025-04-06T03:42:22Z

Effect

← Older revision		Revision as of 03:42, 6 April 2025
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	=Effect=		=Effect=
	*2025 is early to tell, but so far nothing much changed in commissions % for buyer's and seller's agents[https://www.realestatenews.com/2024/11/14/commissions-relatively-unchanged-following-nar-settlement].		*2025 is early to tell, but so far nothing much changed in commissions % for buyer's and seller's agents[https://www.realestatenews.com/2024/11/14/commissions-relatively-unchanged-following-nar-settlement].
	*''Buyers always paid the fees… sellers just rolled it into the sales price and buyers paid it through their mortgage.'' - is that how it still works?		*''Buyers always paid the fees… sellers just rolled it into the sales price and buyers paid it through their mortgage.'' -[https://www.reddit.com/r/RealEstate/comments/1hjbntp/are_sellers_really_still_paying_buyers_agent_fees/] - is that how it still works?

	=Is the NAR a Scam?=		=Is the NAR a Scam?=

Marcin: /* Effect */

2025-04-06T03:42:03Z

Effect

← Older revision		Revision as of 03:42, 6 April 2025
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	=Effect=		=Effect=
	*2025 is early to tell, but so far nothing much changed in commissions % for buyer's and seller's agents[https://www.realestatenews.com/2024/11/14/commissions-relatively-unchanged-following-nar-settlement].		*2025 is early to tell, but so far nothing much changed in commissions % for buyer's and seller's agents[https://www.realestatenews.com/2024/11/14/commissions-relatively-unchanged-following-nar-settlement].
	*		*''Buyers always paid the fees… sellers just rolled it into the sales price and buyers paid it through their mortgage.'' - is that how it still works?

	=Is the NAR a Scam?=		=Is the NAR a Scam?=

Marcin at 03:31, 6 April 2025

2025-04-06T03:31:56Z

← Older revision		Revision as of 03:31, 6 April 2025
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			=NAR Settlement=

	From NAR [https://www.nar.realtor/the-facts/what-the-nar-settlement-means-for-home-buyers-and-sellers]		From NAR [https://www.nar.realtor/the-facts/what-the-nar-settlement-means-for-home-buyers-and-sellers]

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	More here [https://www.nar.realtor/the-facts/home-sellers-what-the-nar-settlement-means] -		More here [https://www.nar.realtor/the-facts/home-sellers-what-the-nar-settlement-means] -
	*'You still have the choice of offering compensation to buyer brokers. You may consider doing this as a way of marketing your home or making your listing more attractive to buyers.'. Therefore, make it explicit that the Buyer Pays for Buyer's Agent Fees in the offering.		*'You still have the choice of offering compensation to buyer brokers. You may consider doing this as a way of marketing your home or making your listing more attractive to buyers.'. Therefore, make it explicit that the Buyer Pays for Buyer's Agent Fees in the offering.

			=Effect=
			*2025 is early to tell, but so far nothing much changed in commissions % for buyer's and seller's agents[https://www.realestatenews.com/2024/11/14/commissions-relatively-unchanged-following-nar-settlement].
			*

	=Is the NAR a Scam?=		=Is the NAR a Scam?=

Marcin: /* Is the NAR a Scam? */

2025-04-06T01:50:42Z

Is the NAR a Scam?

← Older revision		Revision as of 01:50, 6 April 2025
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	I understand that many start ups intend to disrupt the monopoly that is the NAR. The NAR essentially renders a real estate salespersons license useless. No one tells you this before you sign up to get your license, of course. It is your broker who ultimately gives you the news that you will be required to fork over around $1000 annually plus monthly fees for this membership. Most of this money, I understand, is spent on lobbying for this operation to continue. The NAR boasts that their members are "held to a higher ethical standard", however, I don't see anything different in their code of ethics from what I learned was required by all real estate agents. This is a gimmick to dupe the public. At the end of the day, real estate agents and realtors are contractors and ultimately there is no way to ensure that either are adhering to any such standards. A broker is basically an agent's liability insurance and just because agents work "under the broker" doesn't mean the broker is privy to all of their activity or their handling of clients. What say you, Reddit community? When do you think this antiquated system will be dismantled? If you are a defender of the NAR, please provide evidence of its factual usefulness and tell me where all of these NAR dues go if not to lobbying efforts and political interests. Poster is from Virginia		I understand that many start ups intend to disrupt the monopoly that is the NAR. The NAR essentially renders a real estate salespersons license useless. No one tells you this before you sign up to get your license, of course. It is your broker who ultimately gives you the news that you will be required to fork over around $1000 annually plus monthly fees for this membership. Most of this money, I understand, is spent on lobbying for this operation to continue. The NAR boasts that their members are "held to a higher ethical standard", however, I don't see anything different in their code of ethics from what I learned was required by all real estate agents. This is a gimmick to dupe the public. At the end of the day, real estate agents and realtors are contractors and ultimately there is no way to ensure that either are adhering to any such standards. A broker is basically an agent's liability insurance and just because agents work "under the broker" doesn't mean the broker is privy to all of their activity or their handling of clients. What say you, Reddit community? When do you think this antiquated system will be dismantled? If you are a defender of the NAR, please provide evidence of its factual usefulness and tell me where all of these NAR dues go if not to lobbying efforts and political interests. Poster is from Virginia


			In 2021, $37 out of the $150 annual dues went to lobbying.

			https://www.nar.realtor/membership/dues-information

Marcin: /* Is the NAR a Scam? */

2025-04-06T01:48:53Z

Is the NAR a Scam?

← Older revision		Revision as of 01:48, 6 April 2025
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	=Is the NAR a Scam?=		=Is the NAR a Scam?=
	*Apparently, many startups are itching to dismantle it. Read more - [https://www.reddit.com/r/RealEstate/comments/q0kq62/how_corrupt_is_the_national_association_of/]		*Apparently, many startups are itching to dismantle it. Read more - [https://www.reddit.com/r/RealEstate/comments/q0kq62/how_corrupt_is_the_national_association_of/]

			How corrupt is the National Association of Realtors monopoly and when will we get rid of the NAR?

			I understand that many start ups intend to disrupt the monopoly that is the NAR. The NAR essentially renders a real estate salespersons license useless. No one tells you this before you sign up to get your license, of course. It is your broker who ultimately gives you the news that you will be required to fork over around $1000 annually plus monthly fees for this membership. Most of this money, I understand, is spent on lobbying for this operation to continue. The NAR boasts that their members are "held to a higher ethical standard", however, I don't see anything different in their code of ethics from what I learned was required by all real estate agents. This is a gimmick to dupe the public. At the end of the day, real estate agents and realtors are contractors and ultimately there is no way to ensure that either are adhering to any such standards. A broker is basically an agent's liability insurance and just because agents work "under the broker" doesn't mean the broker is privy to all of their activity or their handling of clients. What say you, Reddit community? When do you think this antiquated system will be dismantled? If you are a defender of the NAR, please provide evidence of its factual usefulness and tell me where all of these NAR dues go if not to lobbying efforts and political interests. Poster is from Virginia

Marcin at 01:48, 6 April 2025

2025-04-06T01:48:03Z

← Older revision		Revision as of 01:48, 6 April 2025
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	More here [https://www.nar.realtor/the-facts/home-sellers-what-the-nar-settlement-means] -		More here [https://www.nar.realtor/the-facts/home-sellers-what-the-nar-settlement-means] -
	*'You still have the choice of offering compensation to buyer brokers. You may consider doing this as a way of marketing your home or making your listing more attractive to buyers.'. Therefore, make it explicit that the Buyer Pays for Buyer's Agent Fees in the offering.		*'You still have the choice of offering compensation to buyer brokers. You may consider doing this as a way of marketing your home or making your listing more attractive to buyers.'. Therefore, make it explicit that the Buyer Pays for Buyer's Agent Fees in the offering.

			=Is the NAR a Scam?=
			*Apparently, many startups are itching to dismantle it. Read more - [https://www.reddit.com/r/RealEstate/comments/q0kq62/how_corrupt_is_the_national_association_of/]

Marcin at 01:41, 6 April 2025

2025-04-06T01:41:54Z

← Older revision		Revision as of 01:41, 6 April 2025
Line 5:		Line 5:
	*Sellers can still offer compensation off an MLS. Sellers can offer buyer concessions on an MLS (for example—concessions for buyer closing costs).		*Sellers can still offer compensation off an MLS. Sellers can offer buyer concessions on an MLS (for example—concessions for buyer closing costs).
	*But caveat - 'Agent compensation for home buyers and sellers continues to be fully negotiable.' Is this is the sense that 'some things are more negotiable than others' - before the new law and now as well?		*But caveat - 'Agent compensation for home buyers and sellers continues to be fully negotiable.' Is this is the sense that 'some things are more negotiable than others' - before the new law and now as well?
			*'You as the seller can still make an offer compensation, but your agent cannot include it on a Multiple Listing Service (MLS)' - why this non-transparency on cost structure?

	Confirmation:		Confirmation:
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	More here [https://www.nar.realtor/the-facts/home-sellers-what-the-nar-settlement-means] -		More here [https://www.nar.realtor/the-facts/home-sellers-what-the-nar-settlement-means] -
	*You still have the choice of offering compensation to buyer brokers. You may consider doing this as a way of marketing your home or making your listing more attractive to buyers.		*'You still have the choice of offering compensation to buyer brokers. You may consider doing this as a way of marketing your home or making your listing more attractive to buyers.'. Therefore, make it explicit that the Buyer Pays for Buyer's Agent Fees in the offering.