NAR Settlement: No More 6% Realtor Commissions… Now What? скачать в хорошем качестве

NAR Settlement: No More 6% Realtor Commissions… Now What?

Addressing the $418M NAR Settlement and what this means for you as a buyer, seller and agent. In November the housing market was rocked by the 1.87 billion dollar lawsuit. The National Association of Realtors (NAR), which represents over 1.5M real estate agents, decided to settle several lawsuits by agreeing to pay $418 million and change some rules. This is my honest opinion and attempt to be unbiased on how this settlement will affect the real estate industry moving forward. The settlement agreed to two main terms starting in July of 2024: 1. Buyer Commission will no longer be visible on the MLS 2. Buyer agents will need to have a written agreement (BRA) with their buyer Moving forward, this does not mean that commissions will no longer be offered to the cooperating side (agents will have to get that information outside of the MLS). Really - it calls for clearer conversations between agents and their clients regarding the commission breakdown and also understanding that commission is negotiable… and always has been. As an example, 6% is not common here in Los Angeles. Any seller with good representation will understand that it has been standard practice for decades to offer a commission because it acts as an incentive to have agents bring their clients to your property and ultimately get you the best deal as a seller. Of course, we will see some sellers refuse to offer this incentive moving forward and that’s going to force the buyer to either have their agent negotiate for that commission, negotiate the sales price down so they can afford to pay their own agent, go to their lender for additional financing or… go unrepresented (which is incredibly scary). There’s a lot unknowns but for now, these seem to be the most likely outcomes. The whole reason why Buyer’s Agency was established in the 1990s was to ensure home buyers were protected - both legally and financially. This is now putting a lot of people at risk and increasing the already pre-existing issue of affordability. There’s still a lot to unravel and only time will show the outcome of this settlement. __ Looking to Buy, Sell or Invest in Los Angeles? 🌴 📞 Contact Me - chloe.deverrier@cbrealty.com Want to become a real estate agent? Get your certification with the same course I used! Use CODE: Dreamliving.la for 40% off https://colibri-real-estate.pxf.io/2r... __ Mentorship Program: One on One Coaching Calls with Me https://calendly.com/chloedeverrier/m... __ Looking to join a brokerage? Get an interview with Coldwell Banker! https://forms.gle/kSTCDHWKJ8b3TbZEA Connect with me:   / dreamliving.la   https://www.chloedeverrier.com/ chloe.deverrier@cbrealty.com My Channel: Hi everybody, my name is Chloe de Verrier, and welcome to my channel! I am a real estate agent out of the Coldwell Banker office in Brentwood - Los Angeles, California. Through watching my videos you will see my everyday life as a real estate agent here in Los Angeles. If you like my videos make sure to subscribe. Leave a comment on any video if you have any questions about LA or the real estate market. #RealEstateAgent #NAR #CommissionLawsuit #HousingMarket