Daniela Pagani’s Post

https://lnkd.in/gjpG3g6U 🚨Breaking News:🚨 NAR Settlement and Its Impact on Realtors The recent settlement by the National Association of Realtors (NAR) marks a significant turning point in the real estate industry. This landmark decision will reshape how we approach transparency, competition, and consumer protection in our field. 🔍 What Does This Mean for Realtors? 1. Increased Transparency: Realtors will need to provide clearer and more detailed information about commissions and fees, ensuring clients fully understand the costs associated with their transactions. 2. Competitive Practices: The settlement encourages a more competitive marketplace, which could lead to better service offerings. This shift will challenge us to continually elevate our standards and value propositions. 3. Consumer Protection: Enhanced protections for consumers will be at the forefront, fostering greater trust and confidence in the services we provide. This focus on consumer-centric practices will reinforce our commitment to client satisfaction and ethical standards. As realtors, it’s essential to stay informed and adaptable to these changes. Embracing this new era with a proactive and positive mindset will not only help us comply with the new regulations but also enable us to thrive in a more transparent and competitive environment. Let’s use this opportunity to reinforce our dedication to excellence, innovation, and integrity in every client interaction. #RealEstate #NARSettlement #Realtors #Transparency #ConsumerProtection #CompetitiveMarket

The $418 million settlement by the National Association of Realtors (NAR) marks a significant shift in real estate, particularly in commission handling. Removing commission rates from the MLS might initially seem transparent, but it risks a murky future where commission negotiations occur behind closed doors, potentially prioritizing agent compensation over buyers' interests. The settlement also restricts buyer agent incentives, possibly leading to higher commissions for buyers and limiting competitive practices. Furthermore, it opens the door for miscommunications about commissions and potential legal disputes, fundamentally altering the real estate landscape. ________ #neillrealtygroup #neillrealtygrouprealestate #annmarieneilldeals #realtyonegroupinclusion #savannah #realestate #realtor #narsettlement #realestatecommission #mlschanges #agentcompensation #buyerincentives #commissionnegotiations #transparencyconcerns #legaldisputes #realestatelandscape #marketshift #buyerinterests #competitivepractices

Keller Williams Realty agreed to pay $70 million to settle antitrust claims alleging collusion to overcharge U.S. home sellers on agent commissions. - This lawsuit follows settlements by Re/Max and Anywhere Real Estate, totaling $140 million, prior to trial.   - The settlement underscores a recognition among industry leaders that changes to business practices are imperative for survival. - Plaintiffs argued that brokers' unlawful practices hindered consumers from negotiating lower commission costs, despite the accessibility of online home searching. - The objective of the lawsuit is to prevent large corporations from setting commission rates, which advocates in favor of a free market approach. Source: WSJ Image Source: Housingwire #kellerwilliams #antitrust #brokerage #residentalproperty #microlearning #selfdevelopment #realestate

Beginning August 17, 2024, an MLS Participant “working with” a buyer will be required to enter into a written agreement with the buyer prior to touring a home, including both in-person and live virtual tours. This resource provides information about what provisions must be included in the written agreement pursuant to the NAR settlement as well as other provisions that, while not required by the settlement, MLS Participants may consider addressing with their clients. Written buyer agreements benefit consumers because they clearly and transparently outline the services an MLS Participant will provide and how they will be compensated. *Agreement forms should account for the choice and optionality consumers and real estate professionals have when negotiating the terms of their relationship permissible under state law. *Agreement forms should give the real estate professional and consumer the ability to efficiently memorialize the relationship based on the transparent and clear conversation they have when deciding to work together. See my blog at 6 Things You Need to Know About Upcoming Changes to the Real Estate Industry (findhomesforsaleonline.com) #nar #narsettlement #realestate #newpolicy #newrules #mandatory #mls #realtor #realestateagent #buyersagent #listingagent #businessasusual #broker #compliance

Jason Rosenberg Offers 2.5% Commission: A New Era for Real Estate in the Wake of NAR Settlement The recent National Association of Realtors (NAR) settlement has sent ripples through the real estate industry. Changes in buyer broker agreements, commission transparency, and MLS participation are just the beginning. Jason Rosenberg, a leading real estate agent, is at the forefront of this shift, offering an unprecedented 2.5% commission rate. Key takeaways from the NAR Settlement: Transparency is key: Buyer broker agreements and commission discussions are now mandatory upfront. Empowering consumers: Buyer agent commissions are negotiated directly between buyers and their agents. Increased competition: MLS platforms can no longer display buyer agent commissions, promoting a more competitive market. Jason Rosenberg's Innovative Approach: Rosenberg's 2.5% commission rate challenges the traditional 5-6% industry standard, offering substantial savings to consumers. His approach aligns with the settlement's emphasis on transparency and competitive pricing. What this means for real estate professionals: This new landscape presents both challenges and opportunities. Agents must adapt to greater transparency and competition, but can also differentiate themselves through exceptional service and innovative strategies. Benefits for consumers: The NAR settlement, along with pioneers like Rosenberg, empowers consumers with greater choice and cost savings. Transparent commission discussions and competitive rates lead to a more informed and affordable real estate experience. The future of real estate: The NAR settlement and Rosenberg's innovative approach signal a significant shift in the real estate industry. We can expect greater transparency, competitive pricing, and innovative service models to become the new norm. #realestate #NARsettlement #commissiontransparency #innovation #consumerempowerment => https://lnkd.in/g9s9-YrQ

The recent approval of the settlement in the National Association of Realtors lawsuit has sparked widespread discussion. Here's what you need to know: -Commissions are negotiable and the National Association of Realtors (NAR) has never set these rates. Litigation focused on rules requiring listing brokers to communicate compensation offers, but NAR policies and the MLS Handbook consistently prohibit setting or suggesting commission amounts. The settlement promises enhanced communication and transparency for all parties in real estate transactions. Moving forward, compensation details may not be listed on many MLS platforms. For a comprehensive overview of the facts, visit this FAQ page. https://lnkd.in/dnSSWNST

On Friday, The National Association of REALTORS® (NAR) announced an agreement that would end litigation of claims brought on behalf of home sellers related to broker commissions. Here are the main takeaways: 1. These changes will go into effect in mid-July 2024. 2. NAR has agreed to put in place a new MLS rule prohibiting offers of broker compensation on the MLS. 3. NAR has agreed to enact a new rule that would require agents working with buyers to enter into written agreements with their buyers. Reach out to us if you have questions or would like to know how this could potentially affect you as a Buyer or Seller in today's real estate market. 📱561-212-9501

Happy #MarketMonday! Here is Gary's Real Estate Prediction #3: "In 2023, the National Association of Realtors, and some residential brokerages were found liable for nearly $1.8 billion for conspiring to keep commissions artificially high. This lawsuit is far from over, but it could create a big cost to realtors, especially buyer’s agents. Tort reform will start to take center stage to slow down if not stop class action lawsuits." This was truly a hot button topic, and will continue to be one through the coming year. What are your thoughts? Let us know in the comments! #RealEstateNews #NARLawsuit #CommissionControversy #RealEstateMarketUpdate #BuyersAgentsImpact #LegalTrendsInRealEstate #GarysMarketPredictions #GoWithGary #TortReformDebate #ClassActionLawsuits"

The talk of the industy over the last few months has been the NAR Settlement and all the changes that are to follow. But when are they going to start? There are a few “key dates” to pay attention to during this summer: By June 18th, all brokerages and MLS’s not covered by the NAR Settlement must opt in to the agreement to prevent excess litigation concerning buyer agent comissions. On June 20th or 21st, the Department of Justice will make a public disclosure of their opinions on the case against the NAR, as well as the cases concerning Nosalek and REX Homes. These announcements should put everyone on the same page with the DOJ’s intentions for the industry. August 17th will be the day the new policies from the settlement concerning buyer agent commissions and agreements will become active. For more information, see the attached article from the Real Estate News website! #NARSettlement #RealEstate #RealEstateTransparency

REALTORS SETTLE COMMISSION LAWSUIT FOR $418 MILLION https://bit.ly/3Trdt4y Various news outlets are reporting that the National Association of Realtors announced that a settlement has been reached ending litigation claims brought on behalf of home sellers related to broker commissions. Under the terms of the settlement, the NAR agreed to pay $418 million and it resolves claims against NAR, over one million NAR members, all state/territorial and local REALTOR associations, all association-owned MLSs, and all brokerages with an NAR member as principal that had a residential transaction volume in 2022 of $2 billion or below. Read more: https://bit.ly/3Trdt4y #realestatenews #narsettlement #brokercommissionclaims #homesellerlitigation #realestateindustry #legalsettlement #realestatemarket #realtorassociations #mls #brokerages #realestatetransactions #legalnews