Description
On October 31, 2023, a court found the National Association of Realtors and its members guilty of practices that overcharge sellers by forcing them to pay the broker for the buyers. NAR has changed its Cooperative Compensation Rule to allow listing brokers to offer buyer brokers nothing in compensation when listing a home through the MLS. So if you don’t have an agreement with your buyer to pay you a commission for your services you could help them buy the home of their dreams and be paid NOTHING. Agents must know how to sell the value of their services to buyers, or they will lose clients to those who can show buyers the benefits of signing a Buyer Representation Agreement. Agents must become aware of this new way of doing business or they will lose clients to those who regularly practice Buyer-Brokerage.
