The National Association of Realtors (NAR) just settled on a $418 Million Lawsuit... 💰
Here is what changes will be made starting in July of 2024 from this lawsuit:
- All agents must obtain a signed buyer representation agreement before we can show anyone any properties.
- More clear language and disclosure will be implemented in contracts about buyer and seller compensation.
- The buyer’s agent compensation will not be publically listed on the MLS.
Overall, this settlement will promote fair competition and enhance transparency and clarity. ✅
The media and news outlets are doing a fantastic job of creating fear in consumers across the United States. Not everything you hear through major news outlets is true regarding this settlement. The truth is that buyers’ agents will not be abolished; they will be more important than ever. 👍
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