Understanding the NAR Settlement HOW IT EFFECTS YOU AS A SELLER
The key change: sellers are no longer required to offer compensation to buyer's agents as a condition of listing their home on the Multiple Listing Service (MLS).
HOW DOES THIS AFFECT YOU AS A SELLER?
HOW DOES THIS AFFECT BUYERS?
HOW DO BUYER'S AGENTS GET PAID NOW?
You now have more flexibility in deciding
Buyers may now be responsible for paying their agent's commission out of pocket if sellers don't offer compensation. Buyer's agents now must have signed agreements with their clients, clearly outlining their services and compensation.
Buyer's agents can still be paid through seller-offered compensation if the seller chooses to offer it. If no seller compensation is offered, buyers may need to pay their agent directly. Some buyers may negotiate for the seller to cover their agent's fee as part of the purchase offer.
whether and how much to offer as compensation to buyer's agents. You're no longer obligated to include a buyer's agent commission in your listing. You may need to consider new strategies for attracting buyers and their agents to your property if you opt to not offer compensation to a buyer’s agent.
Buyers might become more selective about using an
agent or may try to negotiate agent fees.
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