VPC Team Meeting - NAR Settlement Changes
Join us for our upcoming Brokerage Meeting via Zoom on Tuesday, August 20th at 9 AM PST / 12 PM EST, where we’ll dive deep into the significant changes stemming from the National Association of Realtors (NAR) Settlement.
NAR Settlement - What You Need to Know
Key Discussion Points To Be Covered Include (But not limited to):
No More Advertising Services as "Free": Agents and brokers will no longer be able to advertise their services as "free" to consumers, ensuring transparency in costs associated with real estate transactions.
Mandatory Written Agreements: New requirements mandate that compensation terms must be agreed upon and signed in a written agreement upfront. This means no more verbal agreements—everything must be clearly documented.
Decoupling of Compensation: The settlement changes will decouple buyer agent commissions from the seller’s side of the transaction, which could lead to significant shifts in how compensation is structured.
Impact on Listing Agreements: Starting August 17, 2024, listing agreements must include new provisions to comply with these changes, affecting all agreements signed after this date.
Increased Transparency for Consumers: Sellers will have more information on what they're paying for, and buyers will have a clearer understanding of the costs they might incur when using a buyer’s agent.
This meeting is a critical opportunity to understand how these changes will impact your business operations and to get all your questions answered by our expert, Angela Ham.
Don’t miss this essential session!
🕘 9:00 AM PST 10AM MT 11AM CST / 12:00 PM EST