Oct 9, 2024
Understanding the NAR Settlement
What it Means for Home Sellers on Hawaiʻi Island
As a real estate broker on the Kohala coast, I understand that selling your home can be both exciting and overwhelming. With the recent settlement by the National Association of Realtors (NAR), there have been important changes regarding broker commissions that you, as a home seller, should know about. Here’s a clear breakdown of what these changes mean for you.
To start, you still have the option to offer compensation to buyer brokers. This can be a strategic way to market your home and attract potential buyers looking for their slice of paradise. However, you and your agent must carefully review the listing contract and determine your choices regarding compensation to your listing agent and to the Buyer Broker.
While you can choose to offer compensation, your agent cannot list this on a Multiple Listing Service (MLS). Instead, they can promote your property through various off-MLS platforms such as social media, flyers, and local real estate websites, expanding your home’s visibility in creative ways.
It’s important to note that your REALTOR® is here to guide you through this process ethically and professionally. Compensation remains negotiable, and your agent will fully discuss your options to help determine what works best for you.
Navigating these changes can be complex, but with the right support, you’ll be equipped to make informed decisions that align with your selling goals. I am a phone call away! So, let’s talk story, understand your needs and work together to achieve the best outcome for your home sale!