Latest Settlement News

Extensive media coverage has highlighted the impending settlement by The National Association of Realtors, leading to confusion among buyers and sellers. The final settlement details will impact real estate agent’s practices, with many states still ironing out the specifics of how to implement these changes.

For sellers, the significant change is that offering compensation to a buyer’s agent will no longer be mandatory. However, it is advisable to heed your agent’s advice on local norms to stay competitive in the market. Commission rates have always been negotiable, contrary to rumors suggesting otherwise.

For buyers, a major change is the requirement to sign an agreement with a buyer’s agent before viewing a property. Only by signing this agreement, which outlines compensation can an agent show you a property.

A preliminary approval was granted on April 24th, with a final hearing set for November 26, 2024. Though court case timelines can be uncertain, the potential approval of these changes is believed to benefit both buyers and sellers.

Your reliable Realtor is the best source for up-to-date information. Armed with accurate knowledge, sound decisions can be made about real estate transactions. For immediate inquiries, feel free to reach out to one of our agents.