NAR settlement doesn't help Winston-Salem home buyers

he recent NAR settlement doesn't help home buyers.

In North Carolina, I could show people homes under an oral agency agreement - - so no written contract was required.

Cooperating compensation, which is where the home seller would pay a portion of buyer agent's fee at closing, was fairly common practice, and was advertised in the MLS, so it was transparent.

Now, I can't show buyers a home without a written agreement - that's asking a lot of buyers that I've only just met.

Now, cooperating compensation can still be offered by sellers, but it can't be advertised in the MLS - so there's less transparency - there is no way that helps anyone.

It's unclear if sellers will use the change as a reason to stop offering cooperating compensation, if they do, some buyers won't be able to afford to make offers on homes without it.

They could choose to go without representation, and then they won't get the protections that buyer agents offer.