Dalton Wade Real Estate Group’s Post

🚨 NAR Rule Changes: In August, the National Association of Realtors (NAR) will make buyer agency agreements standard for real estate agents. 🔍 Scrutiny: Experts and the DOJ are reviewing these agreements, with some calling them "anti-consumer." ⚠ C.A.R. Concerns: The California Association of Realtors' draft agreement is criticized for being complex and potentially misleading about buyer's agent compensation. 🕵♂ DOJ Inquiry: Following critiques from the Consumer Federation of America, the DOJ is investigating C.A.R., delaying new forms related to the NAR settlement. Stay informed about these changes to protect your interests! A tale of two buyer agreements, and why one triggered the DOJ (realestatenews.com) #RealEstate #NAR #DOJ #Homebuyers #ConsumerProtection

As a result of the National Association of Realtors (NAR) proposed settlement agreement to resolve nationwide claims brought by home sellers, NAR has agreed to to make two practice changes. These changes will be going into effect on 8/15/24. #WisconsinRealEstatePracticeChanges #HowBuyersworkwithRealtors #WisconsinRealtorsAssociation

Is 6% really gone? Goodbye 6%: NAR Settlement Redefines Home Buying Costs. 6% commission is out? The settlement is subject to court approval, but it changes some key things for real estate agents in 2024. NAR and plaintiffs have reached a proposed settlement agreement that would end litigation of claims brought on behalf of home sellers related to broker commissions. The agreement would resolve claims against NAR, over one million NAR members, all state/territorial and local REALTOR associations, all association-owned Multiple Listing Services (MLSs), and all brokerages with an NAR member as principal that had a residential transaction volume in 2022 of $2 billion or below

Last month, the National Association of Realtors announced a settlement that would resolve nationwide litigation over claims from home sellers related to broker commissions. There has been a lot of buzz about how this will affect transactions going forward. I'd love to have a conversation with you about this. Comment below with any questions or comments you have about the change that will go in to effect in July of this year. 🏠👩💻 #suzannevolkmanrealtor #GraniteBayRealtor #rosevillerealtor #NARSettlement #buyersagent #coldwellbankerrealty

Read about some potential unintended consequences of the NAR settlement as voiced by NAREB. "[W]e see the challenges of the burden of paying agents on the buyer side. We see the concern with fair housing with pocket listings, and we see the concern with appraisals." What are your thoughts? #thoughts #nareb #nar #referralexchange #realestate https://lnkd.in/gWdGhU7b

NAR (National Association of Realtors) Settlement is making headlines. Here's the facts: - If you are a buyer and your agent is using an MLS, you will need to sign a written agreement with your agent before touring a home so you understand exactly what services will be provided, and for how much. - Written agreements are required for both in-person and live virtual home tours. - You do not need a written agreement if you are just speaking to an agent at an open house or asking them about their services. - Agent compensation for home buyers and sellers continues to be fully negotiable. - When finding an agent to work with, ask questions about their services, compensation and these written agreements. For buyers: https://lnkd.in/gch7fN4Q For Sellers: https://lnkd.in/gSkBmkW4 Full Info: The court granted preliminary approval on April 24, 2024. The practice changes set forth in the settlement agreement will take effect August 17, 2024, and class notice will take place no earlier than that date. The settlement is subject to final court approval. The final approval hearing is scheduled to take place on November 26, 2024. There are strong grounds for the court to approve this settlement because it is in the best interests of all parties and class members.

With the National Association of Realtors recent settlement, new opportunities and challenges await buyers and sellers as real estate agent fees become more competitive. While individuals can save thousands, navigating the new rules can be confusing. In this client-facing article, we'll cover: * Why the National Association of Realtors (NAR) was sued and what buyers and sellers need to know about the settlement * Key behavioral blind spots home buyers and sellers need to be aware of when making decisions * Tips to help clients save on commissions without compromising on agent quality

NAR Settlement Real Estate Changes. Real Estate Changes will be happening due to the NAR Settlement. Under the terms of the agreement NAR will pay $418 million over approximately four years. Much more on this topic can be read here: National Association of REALTORS® Reaches Agreement to Resolve Nationwide Claims Brought by Home Sellers. Real estate professionals should be interested in the settlement fact sheet. Let us know if you agree or disagree with the article. https://lnkd.in/gBbzEzDE

NAR Settlement Real Estate Changes. Real Estate Changes will be happening due to the NAR Settlement. Under the terms of the agreement NAR will pay $418 million over approximately four years. Much more on this topic can be read here: National Association of REALTORS® Reaches Agreement to Resolve Nationwide Claims Brought by Home Sellers. Real estate professionals should be interested in the settlement fact sheet. Let us know if you agree or disagree with the article. https://lnkd.in/gBbzEzDE

NAR Settlement Real Estate Changes. Real Estate Changes will be happening due to the NAR Settlement. Under the terms of the agreement NAR will pay $418 million over approximately four years. Much more on this topic can be read here: National Association of REALTORS® Reaches Agreement to Resolve Nationwide Claims Brought by Home Sellers. Real estate professionals should be interested in the settlement fact sheet. Let us know if you agree or disagree with the article. https://lnkd.in/gBbzEzDE