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The settlement resolves litigation related to agent compensation and aims to increase transparency and consumer choice in real estate transactions. It introduces new mandatory rules on how commissions are communicated and how buyers and sellers are represented.
The key provisions and rule changes resulting from the settlement are scheduled to become effective on August 17, 2024
The settlement makes a written agreement for buyer representation mandatory for all transactions. This ensures clarity on the scope of the agent's services and the agreed-upon compensation prior to touring properties.
You can access both a summary of the new rules and the full, in-depth details of the NAR Settlement by clicking the Download PDF link provided on this page
Yes. The Nathan Johnson Team is fully prepared and compliant with the new rules, ensuring we guide all our buyers and sellers through the updated transaction process with maximum clarity and professionalism.
"I was very pleased with Nathan and his team for my recent purchase. They stay on top of everything and make the process very smooth. Expect timely communication, almost daily emails to keep you on track and a great team of professionals to take care of things like inspections and lending. In my many real estate transactions in my lifetime, your most valuable real estate team will have a GREAT team of people to handle anything. You want your realtor to have 'a guy' (even if it is a woman) for that. It makes all the difference in the world. "
Michelle H - closed 2024