NAR Settlement

The biggest headline in real estate broke in March. A settlement by the National Association of Realtors to settle several commission lawsuits was announced. This news was years in the making as several lawsuits passed through the court system.

The largest change resulting from the settlement is that a buyer’s broker compensation will no longer be advertised on the Multiple Listing Service (MLS), which is the main listing service used for advertising homes for sale. The effects of this change remain unknown. This change will happen in mid-July. Buyers and Sellers can still use agents to navigate real estate transactions but there will likely be more conversations around compensation and where that comes from. The increased transparency will benefit consumers and agents who have already been transparent with their clients and agents that provide real value to those they work with.

As this story continues to unfold, I will be sure to keep you informed. Although not much is known about how this will play out, feel free to reach out with any questions, comments, or concerns.