Important Changes in Real Estate: NAR Settlement Explained

Everything buyers and sellers need to know about new commission rules, transparency requirements, and how to protect your best interests.

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About the NAR Settlement

A class‑action lawsuit against the National Association of REALTORS® has been settled, targeting how commissions were disclosed and negotiated. If you bought or sold a home in the last four years, you may receive a postcard to file a claim for an estimated $10–$25 award.

New Rules Effective August 17, 2024:
• Buyer‑agent commissions will no longer appear in MLS listings.
• Buyer agents must have a signed, written agreement before showing homes.

What Happened?

The lawsuit focused on a “tying” practice—listing agents offering pre‑negotiated buyer‑agent commissions in the MLS. The court ruled this hindered buyers from negotiating fees and may have inflated seller costs.

Key Changes You Need to Know

MLS listings will no longer display buyer‑agent commissions.
Buyer agents must secure a written agreement before any showings.
Full fee transparency empowers your decision‑making.

What This Means for You

Commission structures have always been negotiable—and now you’ll see exactly how your agent is paid. That clarity lets you choose the fee model that best aligns with your goals, whether you’re buying, selling, or investing.

Our Flexible Fee Options

Sellers

Since 2013, BLG has offered tiered fees—discounts when an unrepresented buyer purchases your home or when you sell & buy in the same year. We’ll advise if and when to offer a seller‑paid incentive.

Buyers

Our buyer clients enjoy reduced rates when you find the property yourself. We’ll prepare you for all expected costs and continue support long after closing, from remodeling referrals to market updates.

Frequently Asked Questions

Will sellers still pay buyer‑agent commissions?: Yes. The seller‑paid model remains, with market dynamics determining who covers the fee.
Will these changes save me money?: It depends on fee negotiations. Our transparent approach ensures you choose what’s best for you.

Ready to Navigate the New Rules?

Contact Blessed Life Group today to discuss how these changes impact your next transaction—and learn our proven strategies to maximize your outcome.

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