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In this video, I break down the significant changes that have taken effect in the real estate industry. These changes stem from an antitrust suit settlement between the National Association of Realtors (NAR) and the Department of Justice (DOJ), and they have a profound impact on both sellers and buyers.
What Does it Mean for Sellers?
One of the key changes is the decoupling of commissions, which means that sellers are no longer required to disclose their commission rates to buyers through the Multiple Listing Service (MLS). This has led to three options for sellers:
What Does it Mean for Buyers?
The changes have had a significant impact on buyers as well. Buyers now have more transparency and control over their agent's commission rate. Here are some key points:
Case Studies and Tips
We shared some case studies from the past week, highlighting how these changes are playing out in real-world transactions. We also offer some valuable tips for buyers who want to navigate this new landscape effectively:
Conclusion
The changes in the real estate industry are significant, and it's essential to stay informed to navigate this new landscape effectively. If you have any questions or concerns about these changes or how they affect your transaction, feel free to reach out to Zaid Hanna at 408-515-1613.
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