New Realtor Compensation Structure: What You Need to Know
The National Association of Realtors (NAR) has introduced a new compensation model to ensure transparency and fairness in real estate transactions. Here’s a quick breakdown of what’s changed:
- Buyer Agent Compensation: Agents representing buyers are now required to disclose their commission rates upfront. This means you’ll know exactly what your agent is getting paid before making any commitments.
- Sellers & Buyer Agent Fees: Sellers are no longer expected to cover the buyer agent’s commission. This gives sellers more flexibility and allows buyers to negotiate how much they want to pay their agent directly.
- Transparent Offers: All offers and counteroffers will now clearly outline the compensation arrangements for both the buyer’s and seller’s agents, so there are no surprises during the transaction.
These changes are designed to make real estate fees more transparent and empower both buyers and sellers in the process. For more information on these changes, please contact us!
