Helping you navigate the changing landscape of the housing market.
Are you worried about how the National Association of Realtors (NAR) settlement will affect you? Change is always scary, and not knowing what is going to happen makes it feel even more intimidating. But knowing that our clients and the general public have always been our top priority should put your mind at ease. Today, I’ll be sharing the three biggest possible changes in the housing market if the settlement is approved by a federal court:
1. Buyer agreements will become more common. Inking a pre-sale deal has never been the norm, although there are those who have advocated for this. While signing an explicit deal may seem more work in the beginning, the advantage is that both you and your agent will have your best interests protected through this legally binding document.
2. Changes in commissions. While there is no verified information about ending the standard commission rate, if the new system is approved, there is no way for buyers and brokers to know how much commission is going to be gained in a sale as it will no longer be shown in the multiple listing service.
3. More work in the transition period. Because changes are going to be implemented for the first time in decades, it’s going to be a learning curve for the entire housing market and everyone involved as we navigate the new housing landscape.
“Real estate professionals like myself will be sharpening our skills and tools to provide better service for our clients and the general public.”
While the looming changes seem intimidating, I’m also confident that this will be an opportunity for real estate professionals like myself to do more and do better for their clients. We will be sharpening our skills and tools to provide the best service for our clients and the general public. If you’re eyeing homeownership anytime soon and want to know more about how hiring a real estate professional can benefit you, reach out to me via email, call, or text. I would be glad to walk you through everything you need to in buying your dream home.