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Realtor Comments on NAR Settlement
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Commission Lawsuit
Concessions Paid After One Month
The new rules don't allow the MLS to publish on active listings how much buyer-agent commission is being offered by the seller and listing agent. But in a strange quirk, the CRMLS - the biggest MLS in California covering about half of the state - now requires that...
New Rules After One Month
It was a month ago that the NAR Settlement kicked in, and one new rule in particular was expected to turn the business upside down. From now on, buyers have to sign a contract with their agent before seeing homes in person, which hasn't been required over the last...
Disclosing Amount of Buyer Concessions
When a property is listed for sale, the seller and their agent work together to create a strategy that positions the property to its best advantage when it goes to market. The considerations are many and include but are not limited to marketing campaigns/strategies,...
Agents’ Comments on New Rules
Lance asked how the new realtor rules were affecting agents - here are responses from around the country that I clipped from two different email threads. Thanks Lance!
NSDCC Under List
During the frenzy there were months where 70% to 80% of the sales were closing over their list price. Recently it's been down to around 25% of the buyers paid over the list price. How many paid under? We're in an affluent area so let's get our money's worth. How many...
None of Their Business
Will listing agents demand to see the buyer-broker agreement just to show a house? Agents are known to have their own interpretations of the rules - one listing agent already said that it is against the rules to ask her if her seller is paying concessions - so it is...
Defecting From The MLS
In the week BEFORE the new rules went into effect, there were 29 NSDCC listings that were marked pending. In the first week AFTER the new rules went into effect, there were 38 new pendings. Homes keep selling. Buyers and sellers keep moving, and Realtors keep helping....
9% In Commissions
This is a real possibility now: Bill Colson, who is preparing to sell his Maryland home next year and purchase a retirement home outside Blue Ridge, Georgia, believes the changes will create more costs. Colson, who is 57 years old and retired from the Navy, said a...
Another Story From the Field
Whenever I have a buyer who loses out on a bidding war, I try to get them right back on the horse. Thankfully, there are several houses sitting around that aren't not selling in the $3 million range, so we made another offer yesterday. First, I went to the open house...
