The recent NAR settlement, which took effect last month, has sparked many questions from both prospective homebuyers and sellers.
If you’re familiar with the situation, you know. But if not, here’s a brief overview:
A class action lawsuit brought by a group of Missouri home sellers against the National Association of Realtors (NAR) resulted in a settlement that changes how compensation offers are communicated. This new process is more detailed and requires precise communication, additional disclosures, and a signed Buyer’s Representation Agreement between homebuyers and their agent.
While this may seem overwhelming or confusing, rest assured these changes won’t derail your home buying or selling goals.
With decades of experience in the real estate industry, we know change is constant. While it can be challenging, it’s always in the best interest of clients and consumers. Now more than ever, it’s crucial to work with a realtor or team that understands your goals, prioritizes your best interests, and has the expertise to guide you through the evolving market.
We’ve always found joy and fulfillment in helping our clients achieve their home goals, and this new market is simply another opportunity for us to share our knowledge and experience.
In the coming weeks, we’ll dive deeper into topics related to the settlement as part of our #FridayFacts series. In the meantime, if you have any questions about how the settlement affects you and how to navigate the new landscape, feel free to reach out! We’re here to help—send us a DM or call us directly, John at (209) 581-2240 or Nellie at (209) 602-7070.
By: Nellie Lazar ~ Image: Nellie Lazar