Posts from June 3rd, 2024

The National Association of Realtors (NAR) has recently implemented a new ruling regarding real estate commissions that is set to change the landscape for both buyers and agents.  Currently, the effective date is August 17, 2024. Understanding these changes is crucial for buyers navigating the housing market. Let's delve into what the ruling entails and how it impacts buyers.

What is the New NAR Ruling?

The NAR's new ruling addresses transparency and the disclosure of real estate commissions. Previously, the commission paid to the buyer's agent was typically covered by the seller, although pai throught the price the buyer paid for the home. The amount was often not disclosed clearly to the buyer, leading to a lack of transparency. The new ruling mandates that real estate agents must now disclose the commission rates they are receiving, providing buyers with clearer insights into how much their agent is earning from the transaction. 

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