NAR Settlement - For Buyers And Sellers

The NAR settlement is in the final stages of approval and will likely go into effect in the middle of July 2024. It is not an understatement when I say that this change to how buyers agents are being compensated will introduce chaos into the real estate world until the systems in place adapt to this new reality. BUYERS HIT HARDEST These changes will leave Buyers having to directly pay their agents themselves. However, none of the current systems in place, including lending, are ready for this change. While it will lead to many more options for buyers in terms of representation, it also introduces risks to Buyers that they are likely not going to be aware of. SELLERS MAY NOT BE OFF THE HOOK While the new rules prevent Sellers from openly offering compensation to Buyers agents, there are methods that can be used for Sellers to contribute to "Closing Costs", which would then be used to compensate Buyers agents. Why would Sellers do this? The bottom line is that it will get their property more attention and also insure that their Buyer has representation that can protect the Seller for future litigation.   FASTEN YOUR SEATBELT The bottom line is that we are about to see a complete upending of how the real estate market works and it will take at least a year for this work out. In the meantime, an already difficult market for buyers will become even more difficult to navigate.   ——————————————————————————————————————————————————   🏡 💵 Get Your FREE Home Value Estimate! - https://www.soldbyrobert.com/sellers-services/property-value-report   ➡️ Instagram: https://www.instagram.com/rebelbroker/ ➡️ Twitter: https://twitter.com/rebelbroker ➡️ Facebook: https://www.facebook.com/whitelawre/   ☕️ "Coffee And Real Estate" Live Events: https://www.facebook.com/whitelawre/live/   📰 Subscribe To The Monthly Newsletter: https://soldbyrobert.com/get-the-newsletter   🕵🏻‍♂️ Search For Homes For Sale: https://soldbyrobert.com/homes-for-sale-map-search   👓 Luxury Homes List: https://soldbyrobert.com/listing-report/Luxury-Homes/1371502   💵 Homes Priced Below Average: https://soldbyrobert.com/listing-report/Homes-Priced-Below-Average-In-Morgan-Hill-San-Martin-and-Gilroy/1281392 —————————————————————————————————————————————————— 📚 A case study in how I get better results than other real estate agents or brokerages: https://soldbyrobert.com/2020/08/breaking-every-record-for-my-clients/3444 —————————————————————————————————————————————————— My goal is to share my insights and opinions relating to real estate so that you can make the best possible decisions in achieving your real estate dreams. If you are interested in buying, selling or investing anywhere in Silicon Valley, Morgan Hill, San Martin or Gilroy - I would love an opportunity to discuss with you what I can do to help you get the best outcome possible!