🚨New Rules and The Impact on Buyers and Sellers from the NAR Settlement🚨

If you or anyone you know are thinking about buying or selling real estate in the next few years, the National Association of Realtors class action lawsuit settlement has been finalized. New rules have come into effect as of April 17, 2024, that will impact buyers and sellers in all 50 States. They are as follows:

1. Sellers are no longer “required” to cover the Buyers Agent’s fees, but Sellers can still incentivize Buyers and their Agnets if they choose so. 
2. The MLS will no longer publicly disclose buyer’s agent incentives. Sellers can still incentivize buyers’ agents in the purchase agreement.
3. Buyers will now need to be in a signed buyer’s agreement with all transaction details and fees they are responsible for before agents can show any homes going forward. 

For more specific details regarding what buyers and sellers need to know, this video covers all the important changes to the real estate industry.

https://youtu.be/h0FDoBPpIpg?si=jvFvvecnrDgX1ePD