Big Changes For Realtors

By Ester Sims
Big Changes for Realtors
Real estate agents across the United States are getting ready for a major change in how they do business. These changes are part of a $418 million settlement announced by the National Association of Realtors (NAR) in March. Starting on August 17, new rules will change how Realtors get paid. 

Before these changes, when someone sold a home, they typically had to pay a 5% or 6% commission, which was split between their own agent and the buyer's agent. Wait😮
what does this mean for someone that wants to buy a home? The BIG CHANGE is Buyers have to sign a written agreement laying out commission rates with their agent. This agreement has to be sign before touring a home in person or virtually. In some states this is already the standard. It will specify how much you are going to pay that agent.  Also, when getting a home, the seller would offer down payment assistance or closing cost...Well😕the seller money can be used for other things like your buyer's agent.
Now you can see how the commission is for each realtor you pick. You also have the option of not going with that realtor for that amount of commission. 

Do you think that this change is good or bad? 

Hello, My Name is Ester Sims. I'm a mother, sister, and a daughter. I started this blog to listen and spread some tea about what people want to talk about. So, people lets talk and hear some Tea!.

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