What Home Buyers and Sellers Need to know before August 17th

 

With the National Association of Realtors (NAR) settlement changes set to take effect on August 17th, there's been a surge of questions from home buyers and sellers about the potential impact. Here's a breakdown of what you need to know!

 

Buyers and Sellers: What's at Stake?

Buyers worry about higher out-of-pocket costs post-change, while some sellers are tempted to delay listing their homes, hoping to save on commissions and net more from their sales.

 

Prioritize Family Needs Over Timing

Focus on your family's needs and convenience rather than timing your real estate decisions around these changes. Consider your goals for sale proceeds or purchase price, as well as the logistics and stress of moving.

 

Decoupling of Commissions: Already in Effect

The main change is that commissions will no longer be displayed on the MLS, a practice that’s already in place. Most sellers will continue to offer buyer representation commissions because it attracts more buyers and improves sale results.

 

Don't let the NAR settlement changes dictate your timeline. The impact on your results will be minimal. Make decisions based on what's best for your family and financial goals. For personalized advice or to clarify any misinformation, feel free to reach out. I'm here to help you make the best decision for your situation.