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16 sie 2024 · The practice changes follow NAR's Proposed Settlement Agreement to resolve claims brought on behalf of home sellers related to broker commissions.
While there are major changes, adjusting to the NAR settlement should be easier for Georgia REALTORS® than REALTORS® in other states. This is because our forms have long provided for real estate commissions to be paid for by both sellers and buyers.
In March 2024, the National Association of REALTORS® (NAR) entered into a settlement agreement to resolve litigation related to broker commissions brought on behalf of home sellers. This agreement mandates that covered MLSs adopt and enforce new rules as outlined in the settlement terms.
The 2024 updates to the GAR contracts, influenced by the NAR settlement, reflect a shift towards greater transparency and efficiency in real estate transactions. By understanding and adapting to these changes, real estate professionals can continue to deliver informed and effective service.
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13 wrz 2024 · Two key changes have reshaped how commissions are managed. First, buyers must now sign a written agreement on their agent’s fees before beginning home tours. Second, in many markets, buyer agent compensation is no longer displayed on MLS listings. Learn more about the real estate commission changes here.
16 sie 2024 · The NAR settlement introduces major changes to realtor commissions, shifting more negotiation to buyers and potentially lowering costs for sellers. To summarize: Buyers must now negotiate directly with their agents and sign a buyer's agency agreement before touring homes.
