Episode notes
Earlier this year the National Association of REALTORS agreed to a settlement in a lawsuit that had been ongoing for the last couple of years. The plaintiff accused REALTORS of price fixing their commissions and lack of transparency with regard to compensation. As a result of the settlement, there are a few changes coming across the country. As of August 17, every REALTOR in the country will have to make the following adjustments but in our area the changes go into effect on July 29.
- REALTORS cannot show a buyer a home or do any kind of work on behalf of a buyer until they have a written agreement regarding compensation.
- The MLS will no longer show what a seller or their listing agent is willing to pay towards a buyer’s agent’s compensation.
- The buyer’s agent will now have to contact the listing agent directly to s ...