Morgan Kubarek’s Post

🧨🏡The recent National Association of Realtors (NAR) lawsuit settlement has introduced significant changes that will impact how commissions are handled across all states in the U.S., effective August 17, 2024. The settlement mandates that offers of compensation can no longer be posted on the MLS. Since listing brokers are now prohibited from publishing any compensation offers to buyer brokers through the MLS, these negotiations will now need to take place outside the MLS system. This new framework is designed to increase transparency in real estate transactions, encouraging all parties to negotiate terms more openly. This shift could influence home prices, affect buyer affordability, and emphasize the need for a more professionalized buyer process. Sellers who want to ensure their property is shown to the widest audience of potential buyers may choose to negotiate and pay the buyer's agent commission directly. Although some owners may no longer feel obligated to cover the buyer's agent commission, it's essential to discuss all your options with an experienced professional so you can make an informed decisions. To schedule a consultation about Buying or Selling a home Call 954.807.1489 #DawesTeam🏡 #DreamBuildShare🤗 #LifeOnTheBeach🏄🏽♀️ #EnjoyParadise🏝 #inmobiliaria🌇 #startpacking📦 #lizdaweshomes💰

⭐⭐STAY INFORMED⭐⭐ Nationwide change in real estate rules and procedures have been implemented! Below is a brief summary of changes. Click the link for more in-depth details. #anamazingrealtor #tampabayrealestate #tampabayagent #stpetersburgfl #listingagent #buyersagent

Realtors are done or just starting? The recent lawsuit against the National Association of Realtors (NAR) is shaking things up in the real estate industry. Starting in July, we can expect to see significant changes in how buyer's agents operate. The NAR lawsuit proposes a shift in how buyer's agents are compensated. While buyers could always choose to hire an agent, traditionally, the seller paid the agent's commission through a pre-determined split with the listing agent. Now, the buyer might have to directly pay their agent's fee. This could lead to a major shift in the real estate market. Imagine a scenario where there's only one designated agent showing properties to a buyer. This would require a signed agreement with the buyer, ensuring the agent gets compensated for their time. However, both parties could still terminate the agreement if needed. Such a transition promises substantial benefits for both agents and consumers alike. Agents stand to gain a greater sense of security, with reduced instances of investing significant time only for buyers to switch to alternative options at their discretion. #housingmarket #realestatewholesaling #realestatemarket #realestate #nar #narsettleme #realestateindustry

The 6% commission on buying or selling a home is gone after Realtors association agrees to seismic settlement. The 6% commission, a standard in home purchase transactions, is no more. In a sweeping move expected to dramatically reduce the cost of buying and selling a home, the National Association of Realtors announced Friday a settlement with groups of homesellers, agreeing to end landmark antitrust lawsuits by paying $418 million in damages and eliminating rules on commissions. The NAR, which represents more than 1 million Realtors, also agreed to put in place a set of new rules. One prohibits agents’ compensation from being included on listings placed on local centralized listing portals known as multiple listing services, which critics say led brokers to push more expensive properties on customers. Another ends requirements that brokers subscribe to multiple listing services — many of which are owned by NAR subsidiaries — where homes are given a wide viewing in a local market. Another new rule will require buyers’ brokers to enter into written agreements with their buyers. The agreement effectively will destroy the current homebuying and selling business model, in which sellers pay both their broker and a buyer’s broker, which critics say have driven housing prices artificially higher. By some estimates, real estate commissions are expected to fall 25% to 50%, according to TD Cowen Insights. This will open up opportunities for alternative models of selling real estate that already exist but don’t have much market share, including flat-fee and discount brokerages. #commission #realestate #brokerages #seller #buyer #NAR #lawsuit #settlement #businessmodel https://lnkd.in/gu_jdQJq The 6% commission on buying or selling a home is gone after Realtors association agrees to seismic settlement

This week, a new set of nationwide rules and procedures has been implemented for all real estate agents and transactions. Kevin Sears, the president of NAR, stated that these changes “further empower consumers with clarity and choice when buying and selling a home.” So, what should you be aware of if you're planning to buy or sell real estate in the near future? Although the new and updated documents will differ by state and brokerage, the following key elements will be consistent for everyone: 1. Buyers must now sign a legally binding representation agreement with their agent before they can start touring homes together. 2. A crucial aspect of these agreements is that a buyer’s agent cannot receive more compensation than what was initially agreed upon with the buyer, even if the seller is willing to offer more. 3. Seller’s agents are no longer permitted to advertise commission fees to buyers’ agents on multiple listing services. Read more about this here: https://bit.ly/3yOMtpC If you'd like to talk to a Dalton Wade agent, please visit DaltonWade.com. #NARSettlement #DaltonWade #RealEstateChanges

As a home buyer or seller, it's crucial to stay informed about recent changes in the real estate market. The National Association of Realtors (NAR) has been involved in significant legal actions that have led to a landmark settlement. These developments are reshaping the real estate commission structure. Here's what you need to know: ➡️ The lawsuits against NAR primarily concerned the way real estate commissions were structured, with allegations that the NAR's rules led to inflated commissions paid by home sellers. ➡️ In March 2024, the NAR agreed to a $418 million settlement. The settlement came after NAR faced a $1.8 billion verdict in the Sitzer/Burnett case. ➡️ Key changes include the elimination of the practice where seller’s agents set compensation for buyer’s agents. Offers of compensation will no longer be communicated through the MLS. This change could lead to different compensation models for buyer agents. ➡️ Starting in mid-July 2024, MLS participants working with buyers must have a written buyer broker agreement. ➡️ The NAR maintains that the settlement is not an admission of guilt. Industry analysts predict a shift towards more innovative service and pricing models in real estate, providing more choices for consumers. It's clear that straightforward answers are scarce, and many initial reactions seem to be more about generating online engagement than offering real solutions. But here are key points to consider moving forward: ☑️ Expertise will stand out as the main value proposition. The ability to understand market dynamics and secure the best deals for our clients will drive our success, regardless of industry changes. ☑️ The importance of buyer representation cannot be overstated. It's hard to envision a scenario where a home buyer doesn't benefit from an agent's market knowledge and negotiation skills. Questions about the new buyer agent commission changes? Let us provide the clarity you need. 512-261-1000 | AustinTexasRealEstate.com . . #RealEstateNews #HomeBuying #HomeSelling #NARSettlement #RealEstateMarket #CommissionChanges #PropertyTrends #HousingMarketUpdate #RealEstateLawsuit #ConsumerAwareness

📢 Big News for the Real Estate World! As of this past Saturday, major changes are now in effect for how real estate professionals operate across the US. These new rules, set by the National Association of REALTORS®, is part of a $418 million antitrust settlement, represent the most significant overhaul in decades. Here’s what you need to know if you're buying or selling a home: 1️⃣ Commission Transparency: Seller's agents can no longer advertise commission fees to buyers' agents on MLS listings. This change aims to provide clearer and more transparent information about agent commissions. 2️⃣ Representation Agreement: Buyers must now sign a legally binding agreement with their agent before viewing homes. This agreement clarifies how the agent is compensated and lets buyers know that the commission is negotiable. If a seller doesn't agree to pay the agent's commission, the buyer might need to cover that cost. Reach out to me at Canopy Property Services if you have any questions about how these changes will impact you when you're buying or selling. 🏡💼 #RealEstate #HomeBuying #RealtorUpdates #TahoeRealEstate #Broker #LuxuryHomes https://lnkd.in/gBpcUeHn

As a home buyer or seller, it's crucial to stay informed about recent changes in the real estate market. The National Association of Realtors (NAR) has been involved in significant legal actions that have led to a landmark settlement. These developments are reshaping the real estate commission structure. Here's what you need to know: ➡️ The lawsuits against NAR primarily concerned the way real estate commissions were structured, with allegations that the NAR's rules led to inflated commissions paid by home sellers. ➡️ In March 2024, the NAR agreed to a $418 million settlement. The settlement came after NAR faced a $1.8 billion verdict in the Sitzer/Burnett case. ➡️ Key changes include the elimination of the practice where seller’s agents set compensation for buyer’s agents. Offers of compensation will no longer be communicated through the MLS. This change could lead to different compensation models for buyer agents. ➡️ Starting in mid-July 2024, MLS participants working with buyers must have a written buyer broker agreement. ➡️ The NAR maintains that the settlement is not an admission of guilt. Industry analysts predict a shift towards more innovative service and pricing models in real estate, providing more choices for consumers. It's clear that straightforward answers are scarce, and many initial reactions seem to be more about generating online engagement than offering real solutions. But here are key points to consider moving forward: ☑️ Expertise will stand out as the main value proposition. The ability to understand market dynamics and secure the best deals for our clients will drive our success, regardless of industry changes. ☑️ The importance of buyer representation cannot be overstated. It's hard to envision a scenario where a home buyer doesn't benefit from an agent's market knowledge and negotiation skills. Questions about the new buyer agent commission changes? Let us provide the clarity you need. 512-261-1000 | AustinTexasRealEstate.com . . #RealEstateNews #HomeBuying #HomeSelling #NARSettlement #RealEstateMarket #CommissionChanges #PropertyTrends #HousingMarketUpdate #RealEstateLawsuit #ConsumerAwareness

The recent NAR settlement changes went into effect this week and there are some big changes. For example, the way commissions are listed is changing. Sellers will now list commissions (to seller and buyer) separately, the amount sellers are offering to buyer agents is no longer listed in the MLS (but is typically still offered and paid) and agents must have a buyer representation agreement signed with a buyer before showing homes. This means more transparency and potentially some new costs for buyers, but it also ensures clearer representation. In DC, MD, and VA, the Buyer Representation Agreement ensures that your Realtor is legally committed to representing you, not the seller. In our area, we have been operating under buyer agreements for a long time, so this part is really business as usual. The buyer representation agreement includes key terms like the length of the agreement, compensation details, and whether your agent can show you properties from their brokerage. 🏡 Length of Term: Variable, but typically 6 months to a year. 🏡 Compensation: Depends on the agreement. 🏡 Representation: Your agent must act in your best interest and keep your information confidential. If you’re ready to start your home search or have questions about how these changes might affect you, feel free to reach out. Our team is here to help you navigate these updates smoothly! Head to the link in bio to see how the NAR settlement has impacted the DMV real estate market. #homeforsale #realestatetips #quickhomesale #realestatemarket #sellingyourhome #realestateadvice #compassdmv #compassva #thegoodhartgroup #sellingahome ⁠#Alexandria #compass #realestate #agentsofcompass #realtor #luxuryrealestate #compassrealestate #realestateagent #compasseverywhere #luxuryhomes #realtorlife #realestate #luxuryliving #compassagents #inyourrealm #compassdmv #compassva #thegoodhartgroup

THE BIGGEST CHANGE ↓ Have you heard about the changes coming to the real estate industry as a result of the recent NAR lawsuit/settlement? If you’re planning to buy a home anytime after August 17th, you’ll want to keep reading. THE CHANGE ↓ The change I’m about to describe doesn’t actually alter how I work with my clients, as it’s always been a best practice. The main thing you need to know is that starting August 17, Realtors and their buyer clients are required to enter into a Buyer Agency Agreement PRIOR to touring homes. This written agreement essentially defines the relationship, terms, compensation, etc. This is actually a pretty standard operating procedure but it has now become a requirement. This protects both the client and the real estate agent by ensuring we’re all on the same page about the services being offered. Additionally, the compensation offered by the seller to the buyer’s agent will no longer be allowed to be advertised on the MLS. Sellers are still allowed to (and many will) offer compensation to buyer’s agents, they just can’t say so on the MLS. Overall, none of this radically changes how real estate is bought or sold in the US, and I’m happy to discuss any of this with you over coffee. I think the biggest implication is that you should be very thoughtful about who you work with since you’ll certainly be entering into a written agreement with them! Just send me a DM! 🥷Scott Morreau PA LoKation Real Estate Follow @scottmorreau for all things Southeast Florida and real estate. #NARSettlement #RealEstateNews #BuyerAgencyAgreement #RealtorUpdate #RealEstateChanges #NARLawsuit #wiltonmanorsrealestate #fortlauderdalerealestate #soldbyscott