2024 NAR Settlement: Difference between revisions
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*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. | ||
Revision as of 01:41, 6 April 2025
From NAR [1]
- Buyer, not Seller, is now responsible for Buyer's Agent Commission
- Buyer negotiates commission with their agent up front.
- 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?
- '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:
The next question becomes - who ACTUALLY pays for which parts now, and are payments shifted in some way so the new law makes the practice effectively that the seller still pays?
Or, are most buyers unaware of the law, and taken advantage of by real estate buyer's agents, so that they are still told that seller will pay their sellers' agent fees?
More here [3] -
- '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.