NAR settlement impact for home buyers and sellers

NAR settlement highlights.

The recent NAR settlement is now in effect. Here are 3 of the biggest changes.

1. Cooperating compensation, which is what the seller is willing to pay for the buyers agent, will no longer be allowed to be shown in the MLS.​

2. Cooperating compensation will still be allowed, but it will have to be disclosed outside the MLS - somehow.

3. Written buyer agency agreements will be mandatory and must be signed before a showing is conducted.​ So … no showings without an agreement. That's a big change.

What remains to be seen is - - will sellers use these changes as a reason to stop offering cooperating compensation for buyer agents, and if that happens, how will buyers react?

Will they choose to go without representation? My guess is that it will be a mixed bag for a while.

Time will tell.