Implications of The Commission Lawsuit for Buyers
You may have heard the headlines about the commissions lawsuit and the NAR proposed settlement. As an update, this is a proposed settlement and has not yet been accepted by the courts. But change in the industry is inevitable as early as this summer. We're launching a two-part video series to help sellers and buyers think about these changes and what it can mean for your home goals. In the video above 👆 we first discuss the considerations for a seller in light of these upcoming changes and what this can mean for you and the sale of your home.
Key factors to consider:
Getting the best client experience from the chosen REALTOR® professional that fully represents the seller's interests
Reducing a seller's risk in the home selling process
Listing agents doing more work, or the same work and then employing a buyer's agent to help locate buyers to get the property sold for the most money in the best time possible
Overall, the great news is that this settlement would preserve the choices consumers have regarding real estate services and compensation. After the new rule goes into effect, listing brokers and sellers could continue to offer compensation for buyer broker services, but such offers could not be communicated via the MLS.
Stay tuned for our next video in this series to talk about the key considerations for buyers. We want to keep this an informative discussion and welcome comments and feedback. If you have any questions about what's going on in the market or in real estate news just call us at (214) 310-1495.
Stay blessed!
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Residential 30-year Fixed Conventional: 6.92%
Residential 30-Year Fixed FHA: 6.41%
Commercial Property/Business: 10.00% - 10.75% (Prime of 8.5% + 1.5% - 2.25%)
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