The Buzz - NAR Settlement

We bet you’ve heard some buzz about NAR settling a class action lawsuit. In true media fashion, half of what you’ve been hearing is a little bit wrong! Here’s the scoop:

Commission Shuffle: Okay, so commissions are still part of the deal, but we’re changing up how we talk about them. Gotta disclose, negotiate, and communicate differently. But we are real estate agents, we will still be paid a commission to help sellers sell and buyers buy! This is our professional and this is how we earn a living.

Seller Side Commission: Sellers can still dish out the buyer’s agent commission on their end like they’ve always done. That commission amount can be negotiated (it has always been negotiable!). Agents will give sellers the OPTION and lay out all of the pros and cons to the choices.

Buyer Commitment: Buyers will have to sign on the dotted line with an Exclusive Buyers Agent agreement. It’s all about committing to working with us and understanding how we get paid. Many states have been doing this for DECADES — so it’s no big deal! But buyers may have to pay our commission on a listing or put it into their negotiation to have the seller pass it through.

So, yeah, it might seem like a muddy mess, but trust me, the Florida Home Girls have got your back! We’re on top of it, and while it might mean jumping through a few more hoops, in the end, it’ll all come together. Just another day in the wild world of real estate, right?

If you are confused, worried, curious, or interested, drop me a line. We can chat about it. And, nothing is official YET - the DOJ still has to approve all of this and then implement it all. As I like to say, “Stay Tuned”. (Update as of 4/30/2024)