Tag: realtor homes for sale

A recent nationwide settlement by the National Association of Realtors (NAR) could drastically impact how buyers and sellers compensate real estate agents. Critics argue the existing system artificially boosts agents’ commissions.

The settlement marks a shift in the real estate landscape, with potential implications for millions of homebuyers, sellers, and real estate professionals nationwide. While attorneys continued to finalize the specifics, local realtors commented on the potential impact.

“The recent settlement for NAR means a better pathway forward for consumers and their realtors,” said Greater Owensboro Realtor Association President Matthew Schell. “The settlement, which is focused on helping commission disclosures to the public, includes two fundamental changes to the daily practice of real estate agents.”

NAR represents more than 1 million realtors in the US, and since the 1980s, sellers have determined the commission paid to buyers’ agents for the use of the multiple listing service (MLS). As is, data from Forbes suggests buyers’ and sellers’ agents can share anywhere between 5-6% commission. As reported by national outlets, critics suggest including commissions on the MLS encouraged brokers to steer buyers toward more expensive listings.

Owner and principal broker of Triple Crown Realty Group Charlie Dawson elaborated on the presumption that