Are you confused about the recent National Association of Realtors (NAR) settlement and what it means for you? There’s a lot of buzz and even some panic, but I’m here to tell you why you should stay calm and trust your agent.
If you have questions, don't hesitate to reach out to me directly.
So, What's All the Fuss About the NAR Settlement?
In a nutshell, the NAR settlement is a series of changes aimed at increasing transparency and fairness in real estate transactions. But when you get down to it, these changes are pretty minor and likely won't affect your experience much. Here’s what you need to know.
This is one of four (4) videos I’ve created to help bring clarity to any confusion surrounding the NAR settlement updates. Check out the entire four-part video series on my Living in Palm Springs California YouTube channel.
Buyer’s Agent Commission
First, the commission for buyer’s agents will no longer be listed on the MLS. Don’t worry, most consumers never saw this information anyway. Second, all buyers will now need to sign a buyer's agreement outlining what they’re willing to pay their agent if the seller’s offered commission falls short.
Let’s break that down a bit. You’re probably wondering, “What does this mean for me?” Honestly, for most people, there’s no real difference. It’s all about a few legalities being put in place. The changes are designed to protect both buyers and sellers and ensure everyone is on the same page.
Stronger Together
Here’s the silver lining: this settlement actually presents an opportunity to build a stronger relationship with your agent. Whether you’re buying or selling, having a knowledgeable agent who can explain these changes and guide you through the process is invaluable.
A good agent will keep you informed and make sure you understand that these changes are mostly formalities. They’ll help you stay calm and stress-free, which is exactly what you need during a real estate transaction.
Experience is Key
Remember, every real estate transaction is a bit of a roller coaster. There are fun moments and not-so-fun moments, but a great agent who understands the ongoing changes and how they impact the local market will keep you on the ride and make it as enjoyable as possible. Trust in their expertise and let them guide you.
So, What's the Takeaway Here?
The NAR settlement changes are minor and meant to enhance transparency – so don’t panic. You can learn more about What the NAR Settlement Means for Home Buyers and Sellers.
You can also reach out to your trusted agent. They are there to support you and make the process smooth.
What other questions do you have?
Consider an experienced and knowledgeable local realtor (like me) to help you make sense of things.
If you’re ready to buy and/or sell yourself, I look forward to assisting you. I promise to give you a much more targeted answer than ChatGPT, Google or the news will.
Please feel free to give me a call, text, email me – or let’s schedule a Zoom meeting.
I’m looking forward to connecting with you!
Your Palm Springs Insider,
Glen Nadeau
📱 Call or Text: 805-220-8097
📨 Email: [email protected]
📅 Zoom: Click here and let's schedule it!
💻 Website: https://www.modernlivingpalmsprings.com/
🔎 My Google Business Profile: https://goo.gl/maps/hipgpHfDezGWBTxd6
PS- Are you a part of the LGBTQ+ community and looking to relocate to Palm Springs and the Coachella Valley? Check out our FREE “Palm Springs Enthusiasts LGBTQ+ Relocation Guide” and find out why Palm Springs is such an oasis of Pride and inclusivity – brought to you by The Palm Springs Guys and Glen Nadeau Real Estate 🏳️🌈
*We cannot guarantee any of the above statements or third-party links. Before you enter any transaction, you should read and review all contracts, leases, and information as they are unique and subject to changes. We recommend you consult with your accountant, attorney, tax advisor, and local real estate professionals prior to any real estate transactions.
