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A new day is approaching: Changes are coming to the way many of us do business. As of Aug. 17, we will be required to have written agreements with buyers before we tour a property with them, and offers of cooperative compensation will be prohibited on MLSs.
NAR’s Legal Affairs team spells out what you need to know about written buyer agreements. As far as offers of compensation go, as always, it’s up to each of us to negotiate what compensation we receive for our work and communicate the value we deliver. Complying with these rules will require open dialogue between listing agents, buyer’s agents and consumers. Fortunately, ours is a relationship business, and I’m confident we’ll adapt.
I encourage you to begin implementing these rules now so that when Aug. 17 rolls around, you’ll be able to approach them with confidence and a clear understanding of, and belief in, your value.
Follow Sears’ video updates from the road on NAR’s social media channels (@nardotrealtor). Get up-to-date settlement resources at facts.realtor.
