In March 2024, in response to a pending lawsuit judgment against them, the National Association of Realtors® released a set of proposed policy and practice changes that will reframe the relationship between real estate professionals and buyers. To be clear, the industry’s fiduciary commitment to the best interests of clients hasn’t changed, but the way agents and buyer clients formalize professional relationships will.
As a homebuyer, this proposed settlement means there will be some changes to your real estate experience:
As a homebuyer, these changes will require new, important conversations between you and your real estate professional. A buyer service agreement will formalize your agent’s fiduciary responsibility to you, further protecting your interests. It will allow the opportunity for real, transparent communication with your agent around compensation, offering you a clear understanding of the cost of services and how those services benefit you.
These conversations will ultimately set buyers up for greater success in their transactions. More buyers will start the home search process with a clear understanding of their strategy, how their agent will support them, and what it will take to get to the closing table.
Two major changes: First, compensation offers to buyer’s agents will no longer be displayed on the MLS, and the MLS won’t be allowed to facilitate commission cooperation between the buy and sell sides of transactions. Second, all buyers will be required to sign a buyer agreement with their agent outlining service terms, including commission requirements.
Yes. Luxury Presence has created a strategy guide for agents seeking advice on negotiating buy-side compensation. Get your copy of The Future of Buy-Side Compensation here.
The best agents have shifted their thinking from the top line to the bottom line. They're obsessed with the client experience. They're taking action very quickly to level up the technology in their businesses because they understand it's the only way to deliver strong profitability and a world-class client experience.
As my client, you can expect nothing but the highest level of service and counsel. I take my fiduciary commitment to you extremely seriously and believe that the best way to advocate for your best interests is through preparation. For each property my clients consider, I create a complete set of market research, potential pricing and offer strategies, contract negotiation tactics, and more.
We had a wonderful experience using Tony as our realtor! He was professional, timely, and easy to work with. Tony puts his clients first and is very responsive with all forms of communication (calls, texts, and emails). It was ...
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Tony is a great realtor! He helped me find my family their dream home. Tony was very informative with all of our questions and concerns. He also helped us close on the house very quickly and we very much appreciate all his hard...
Working with Tony was a pleasure! He was always available and had amazing knowledge of the industry. Next time we buy and sell Tony and Nick are the team we trust!
Tony spent several months going above and beyond for us. I know that this sale was the most difficult he has ever had. He kept his cool and remained professional even though I didn't always keep my cool. I can't recommend him e...
Tony is knowledgeable and is able to work with whatever specifics you may be looking for in a home. We were receiving help from CHI and Tony already knew the requirements that needed to be met in a home in order for us to move ...
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The seller was a bit "difficult" but Tony made sure the transition went smoothly, and that we moved into a nice, clean condo! He was super-responsive to our questions and I felt he had our best interests at heart. If we were go...
We called Tony to show us a few houses and were so pleased with his knowledge of the area and his personality in general. He helped us buy a house and we really liked him so we had him sell our home for us, too. He is by far th...
Tony was incredible! He was very knowledgeable, always prompt to respond, and made the process go so smoothly. He was very patient and would go the extra mile for us. Tony is the best!