Quick Summary of Commission Changes in Real Estate

• The National Association of Realtors (NAR) has reached a settlement changing how real estate commissions work.
• Key Changes: No more pre-set buyer broker commissions marketed within the MLS, and new requirements for written buyer representation agreements.
• Our commitment: Transparent 2% commissions for both buyers and sellers, with strategies to save you money.

Understanding the Changes

The real estate industry is evolving, and we’re here to help you navigate these changes. The recent NAR settlement introduces two major shifts:

1. Flexible Buyer Agent Commissions: Starting August 17, 2024, the offered commission rates for buyer’s agents will no longer be published in the MLS.
2. Written Buyer Agreements: Buyers now need to sign an agreement with their chosen agent before viewing homes.

What This Means for You

If You’re Selling

• Potential for more flexibility in how/if you compensate buyer’s agents.
• Opportunity to lower overall commission costs.
• A need for strategic pricing to attract buyer’s agents and their clients.

If You’re Buying

• More transparency in how your agent is compensated.
• Potential for negotiating lower buyer agent fees.
• A greater importance to understand

Our Approach: Transparency and Value

We’ve always believed in fair, transparent pricing. Here’s how we’re adapting to serve you better:

For Sellers

• Savings. We offer a competitive 2% listing fee.
• We’ll help you strategize on offering buyer agent compensation (or not) outside of the MLS to attract strong offers.
• Our services still and will always include professional photography, videography, and a comprehensive marketing plan.

For Buyers

• Savings. Our buy-side commission is a straightforward 2%.
• We have strategies to help you benefit from higher seller-offered commissions.
• We’ll guide you through options if seller compensation is lower than 2%.

Why Choose Us?

1. Experience: We’re native Nashvillians with over 20 years in the Nashville real estate marketplace.
2. Transparency: Clear, front pricing and no hidden fees.
3. Client-First Approach: Easy-out guarantee if we’re not the right fit.
4. Value-Added Services: Expert negotiation, market analysis, and personalized strategies.

Next Steps

Whether buying or selling, these industry changes make professional guidance more important than ever. Here’s how to get started:

1. Sellers: Schedule a free consultation to discuss your property’s potential in this new landscape.
2. Buyers: Book a free buyer consultation to understand your options and start your home search on the right foot.

Note: This post started as a longer and more in-depth explanation. ChatGPT helped me shorten it. If you want to get into the weeds, check out this blog post.