Key Updates on NAR Practice Changes: What You Need to Know

You may have heard about the recent practice changes by the National Association of REALTORS®. We aim to simplify the two key changes that are now in effect.

1. Every buyer represented by a NAR-affiliated agent is now required to sign a Buyer Representation Agreement formalizing the relationship between the buyer and broker before touring properties.

2. Buyer’s agent compensation can no longer be advertised on the MLS. Compensation has to be advertised, offered, and negotiated outside of the MLS. This can be done through phone, email, or in-person conversations with the listing agent.

These changes are designed to enhance transparency and clarity in real estate transactions. For more information or to understand how these updates might affect you, feel free to reach out.

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Source: compass.com