Is the NAR Settlement that... Gnarly?🤔
/SO WHAT'S THE DEAL?
consumer information has been conflicting...
Change and Transparency ARE GOOD THINGS!
On March 15th, NAR (The National Association of Realtors) and plaintiffs reached a proposed settlement agreement that would end litigation of claims brought on behalf of home sellers related to broker commissions; the settlement is subject to court approval. You may have seen or read a lot of conflicting headlines regarding this in the time since -- especially theorizing on what the settlement "could" mean in the world of real estate. It's been unique to be IN this business, especially for so long, and see so much disinformation out there! But to put things briefly: THIS IS A GOOD THING!
We've ALWAYS been proponents of transparency in our business (and lives), and what better way to weed out Realtors without that ethos than to make transparency mandatory? Plus, as our clients' fiduciaries, it makes complete sense for each party to be responsible for the compensation of their agent. There are currently ways to navigate agent compensation (with more expected!) so that the disenfranchised among us, and first-time home buyers, don't get pushed further out of the market, and SKILLED agents will know how. Only time will tell if this ends up a good thing for consumers, it could be a bumpy road until it isn't, but regardless -- we are here as your advocates to help you navigate any current and upcoming changes, and lend support throughout it all.
The Twin Team feels good about this change, and had already started enacting our own internal changes in anticipation late last year. And while we keep using the word "change", it's important to point out that the essence of what we do remains the same: we are committed to our clients and our profession, we will continue to guide you through complex matters, we will fiercely negotiate on your behalf, and we remain dedicated to serving your best interests. Period.
We know that there remains a lot more to unfold, and we'll continue keeping you, our clients and community, well-informed along the way 💚
