The NAR Settlement: What Sellers Need to Know

If you’re thinking about selling your home, you may have heard about changes to real estate practices following the National Association of REALTORS® settlement.  Here’s a simple look at what those changes mean for sellers.

Compensation remains negotiable.
Real estate broker fees and commissions are not set by law and remain fully negotiable.

Offers of compensation are no longer displayed on the MLS. 
Sellers may still choose to offer compensation to a buyer’s agent, but those offers cannot be communicated through the MLS.  Your real estate professional can explain the options available and how they may fit into your marketing strategy.

Seller concessions are still an option. 
Sellers may negotiate concessions to help a buyer with certain transaction costs, depending on the terms of the offer.

What does this mean for you as a seller? 
The important takeaway is that you continue to have choices.  Before listing your home, talk with your real estate professional about compensation, marketing, and how different options may affect your selling strategy.

Every transaction is different, so understanding your options before your home goes on the market will help you make informed decisions.