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The recent settlement agreement with the National Association of Realtors (NAR) has introduced significant changes to the real estate industry. Effective August 17th, prospective homebuyers must sign a contract with a realtor to view a home, although this requirement does not apply to open houses. The settlement has also impacted buyer agent commissions, which have decreased to 2.55%. There is ongoing confusion among agents regarding the new rules for buyer agent compensation. Additionally, commercial real estate brokers, especially those working with small and medium-sized business owner-occupants, need to understand the implications of the NAR settlement.
The real estate industry as a whole does a dismal job with education Apparently there’s a zillion people in RE across the many many disciplines and asset classes but I talk to people every day where no one explained how xyz works to them Fascinating https://t.co/v9PIIBojSk
Most commercial real estate brokers don't need to know a thing about the NAR settlement. Corporate services, capital stack, investment services, but! Brokers who work with SMB owner occupants must understand that it's big content. Big content = big headlines in feeds. The…
In some ways residential real estate was ahead of CRE. social media for example. Mind blowing they are just now figuring out how to figure out the commission issue. Oh you have to negotiate your fee with your client and the Seller? https://t.co/GdC25scmTT