As of August 17, 2024, the National Association of Realtors® (NAR) has implemented significant changes to the way real estate commissions are managed, bringing transparency and flexibility to the process. Under these new regulations, the traditional approach where the seller determined and paid the buyer's agent commission has been revised. Now, buyers and their agents must negotiate and formalize the commission through a written buyer representation agreement before beginning their home search.

This change empowers buyers to have greater control and clarity over the services they receive and the associated costs. It’s essential for buyers to understand their options and work closely with their chosen agent to ensure that their interests are well-represented in this new landscape.

Whether you’re navigating your first home purchase or adding to your real estate portfolio, understanding these updated rules is crucial for making informed decisions. Our team is here to guide you through every step, ensuring that you have the knowledge and support needed to achieve your real estate goals.