NAR Buyer Changes

What You Need to Know

On August 17, 2024, the National Association of Realtors® released new policy and practice changes that have reframed the relationship between real estate professionals and buyers. To be clear, the industry’s commitment to the best interests of clients hasn’t changed, but the way agents and buyer clients formalize professional relationships will.

Changes to the Homebuying Experience

As of August 17, 2024 there have been some changes to your real estate experience. Here are the 2 main changes..

1. Required Buyer Agreements

Prior to this settlement proposal, some states did not require written buyer-broker agreements regarding their services. Now, buyers must sign a written agreement with a real estate professional in order to be shown homes or if they are performing any real estate tasks for them.

2. Buyer’s Agent Compensation

Prior to August 17, 2024, buyer’s agents were compensated via a cooperation agreement with the seller and seller’s agent facilitated by the multiple listing service (MLS). While this sort of cooperation is still allowed, the MLS is no longer allowed to coordinate it. Buyer’s agents will now be responsible for speaking with the seller or their agent and negotiating their own compensation with clients.

How we Work with Buyers

As an M&M Realty client, you can expect nothing but the highest level of service and counsel. We take our commitment to you extremely seriously and believe that the best way to advocate for your best interests is through preparation. For each property our clients consider, we create a complete set of market research, potential pricing and offer strategies, contract negotiation tactics, and more.

Before the NAR lawsuit settlement proposal, some buyer’s agents were able to get away with doing the bare minimum. Thanks to assumed cooperation with the seller, they might get paid for simply showing up, unlocking doors, and pushing papers. While that was never our approach, it is now no longer the world we live in. As an M&M Realty client, you can rest assured that we will provide you with expert-level service and advice throughout our professional relationship.

Download our FREE Buyer's Guide

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Hear from an M&M Realty Past Client..

M&M Realty helped me find and purchase my first home, and I couldn't imagine having gone through this process with anyone else! From the beginning until the end, they were there for me. Our agent would answer texts at ANY time of day and never failed to be there when I needed them. They were super patient with me being clueless and never made me feel like I was bothering them. They genuinely care about their clients and are supportive at every step of the process. They give such great advice and support and are willing to go way above and beyond what I could have expected to make sure I was taken care of! I would recommend M&M Realty to anyone!
— Katherine H.

Understanding the New National Real Estate Changes

What You Need to Know

Changes to the Homebuying Experience

1. Required Buyer Agreements

2. Buyer’s Agent Compensation

How we Work with Buyers

Download our FREE Buyer's Guide

Hear from an M&M Realty Past Client..

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