Through the past few weeks, our firm has been gearing up for the new NAR laws taking effect August 17, but August 15 for our MLS. This settlement was an antitrust lawsuit that is meant to combat price fixing and inter-brokerage agreements. Overall, this effects pretty much everyone because the agents will have a slightly harder time finding their commission, and now the seller is more obligated to pay the buyer agents commission. The percentages are staying the same, and a lot of deals will likely go the same way, but it is a very unattractive change happening to the industry that will scare many agents and buyers away from the market. Luckily, overtime it will protect agents more and keep the non-serious buyers at bay by not being forced to work for them if they don’t sign buyers agency with you.
