Understanding Real Estate Industry Changes

What they mean for you

As your trusted real estate advisor with Steamboat Sotheby’s International Realty, I’m dedicated to keeping you updated on key industry developments. Recent changes following the National Association of Realtors® (NAR) settlement will affect how broker compensation is disclosed, aiming to bring greater transparency to the real estate process.

There are a few important updates that I’d like to bring to your attention.

What You Should Know

• Compensation for buyer agents will be negotiated directly between the buyer and their agent, instead of being listed on the MLS

• Buyer agents must now have a formal written agreement with their clients before touring homes.

• The practice changes ensure customers know that broker compensations are not legally set and entirely negotiable, as they always have been.

In light of these changes, having a knowledgeable and experienced real estate advisor is more important than ever to guide you through one of life’s most significant transactions.

For Sellers

• You still have the option to offer compensation to buyer agents, which has always been both negotiable and beneficial for both parties.

• Offering compensation can increase your property’s appeal and widen the buyer pool, keeping it competitive, and facilitating a faster sale.

For Buyers

• Before touring properties, whether in-person or virtually, you will need to sign a buyer representation agreement.

• Navigating the real estate market without professional representation can lead to missed opportunities and unnecessary challenges.

Thank you for your trust, I will continue to ensure you receive the highest level of expertise and support throughout your real estate journey.