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Home Buyer Tips • Market News • August 2, 2024

Real estate changes coming: What you need to know

by Lori Makiya
navigate new path

The National Association of Realtors (NAR) settlement is bringing changes to the real estate industry, starting August 17, 2024. These changes aim to improve transparency for both buyers and sellers, highlighting the value of professional real estate guidance.

For Sellers:

  • Compensation Changes: The way compensation is handled is evolving. Discuss with your trusted agent how this might affect your home sale and explore your options.
  • Pricing and Presentation: It’s essential to price your home competitively and showcase its best features to attract the widest pool of buyers.

For Buyers:

  • Written Agreements: Before touring homes with an agent, you’ll sign a written agreement outlining services and fees. This ensures you understand the buying process and the associated costs.
  • Stay Informed: Keep in close contact with your agent, watch for new listings, and be ready to act quickly on properties that interest you.

Over time, we will see how these changes unfold. Real estate fees, like those in legal, medical, financial, and design professions, will vary based on the level of representation and services provided. What remains constant is my commitment to you: exceeding expectations and protecting your interests.

As always, I’m here to help you navigate these changes and ensure you have a smooth and successful experience. Please reach out with any questions.

 

 

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