On March 15, The National Association of REALTORS® (NAR) reached an agreement with plaintiffs that would, if approved by the court, end litigation of claims brought on behalf of home sellers related to broker commissions. The Settlement also includes some changes to real estate transactions, but importantly, consumers will continue to have choices regarding real estate services. These practice changes will go into effect on August 17, 2024. As a Buyer, if your agent is using the ARMLS, you will need to sign a written agreement prior to touring a home so you understand exactly what services will be provided and the compensation involved. Written agreements are required for both in-person and live virtual home tours. Please click the link below to read more about the settlement.
