On August 17th, a significant change hit the real estate sector with the NAR settlement going into effect. I personally think this is just changing the industry! 📉 What’s Changed? Historically, real estate transactions involved commissions paid by sellers to buyer's agents, often without full transparency to buyers. The settlement aims to address these practices, focusing on clearer disclosure of commissions and potentially reducing conflicts of interest. Here are some key points to note: 🔹Transparency is Key: Buyers will now have a better understanding of what their agents are being paid, leading to more informed decisions. 🔹Shifts in Marketing: Zillow and other platforms are adjusting their strategies. For instance, Zillow has introduced a new touring agreement that allows buyers to schedule showings without immediately committing to a buyer's agent. 🔹Industry Evolution: The settlement could pave the way for more direct transactions and alter how agents market themselves and handle commissions. As a real estate investor, I am thinking about how these changes could reshape aspects of real estate investing, offering both challenges and opportunities. What are your thoughts about the NAR settlement and how are you planning to adjust your investment strategies in light of these new developments? Share your insights below! #NARSettlement #RealEstateInvesting #WavemarkCapital
Mike, please let us know when distributions will continue.
Sales Professional
1moTransparency is always a good thing, if many could get past stigmas, I'm surprised more buyer agents aren't flocking to other options, such as selling manufactured homes in dealer or community settings.