Buyer's Agency Cooperation / Compensation - Dee Plucinski
Buyer's Agency Compensation what's the big to-do all about? SKIP TO DEE'S BAC SPREADSHEET QUESTION: "I've heard that there was a Real Estate lawsuit - something about buyer-side commissions. Can you tell me what happened?" ANSWER: The National Association of Realtors (NAR) was involved in a lawsuit regarding allegations of antitrust violations. The lawsuit claimed that NAR's rules for property listings on websites restricted competition. As a result, NAR agreed to settle the lawsuit and change its policies to increase competition and provide more transparency to consumers. This settlement has impacted how real estate transactions are conducted, and how Realtors are paid. QUESTION: What were these Policy Changes? ANSWER: As part of the settlement with the Department of Justice, the National Association of Realtors (NAR) agreed to implement several policy changes. Here are some key changes: Broker Transparency: NAR agreed to modify its rules to allow