Understanding Real Estate Industry Changes What they mean for you
As your trusted real estate advisor with Steamboat Sotheby’s International Realty, I’m dedicated to keeping you updated on key industry developments. Recent changes following the National Association of Realtors® (NAR) settlement will affect how broker compensation is disclosed, aiming to bring greater transparency to the real estate process. There are a few important updates that I’d like to bring to your attention.
What You Should Know • Compensation for buyer agents will be negotiated directly between the buyer and their agent, instead of being listed on the MLS • Buyer agents must now have a formal written agreement with their clients before touring homes. • The practice changes ensure customers know that broker compensations are not legally set and entirely negotiable, as they always have been. In light of these changes, having a knowledgeable and experienced real estate advisor is more important than ever to guide you through one of life’s most significant transactions.
For Sellers
For Buyers
• You still have the option to offer
• Before touring properties, whether
compensation to buyer agents, which
in-person or virtually, you will need
has always been both negotiable and
to sign a buyer representation
beneficial for both parties.
agreement.
• Offering compensation can increase
• Navigating the real estate market
your property’s appeal and widen the
without professional representation
buyer pool, keeping it competitive,
can lead to missed opportunities and
and facilitating a faster sale.
unnecessary challenges.
Thank you for your trust, I will continue to ensure you receive the highest level of expertise and support throughout your real estate journey.