How Will The NAR Lawsuit Will Affect The Housing Market In Augusta, GA?!?!

👇 The Real Estate industry is about to become SO much better. While others are complaining, we are stomping on the gas pedal and steering right into the storm that is coming! If you are looking to buy or sell over the next SEVEN years, you should be incredibly excited about the new wave of transparency, and the elevated level of service that is coming your way! The headlines are flashy but don't get it twisted, there are SO many CREDIBLE reasons why Realtor compensation has been the same for decades. Unfortunately, we have had very loose requirements on how we communicate the HOWS and WHYs of our compensation with our clients. This has led to a total lack of clarity on such an important financial decision.
While our team has been practicing this for over a year, starting August 17th, ALL Realtors will be required to have a written agreement with their buyer clients prior to showing a single home. If your agent is not doing this... 🚩 This agreement will either establish exclusive agency, non-exclusive agency, or a customer level of service between you and your Realtor. You do this already when listing a home, now it also applies when looking to buy! You will also establish your Realtor's total maximum and minimum levels of compensation, and you will agree on HOW they are compensated, whether it be by you, the seller, or the seller's listing brokerage! While this may seem like a massive shift from "how it used to be" ... the reality is that real estate professionals have been paid in this manner for decades.... So what's the point Matt?
While these rules will not create a significant shift in the method of compensation, they are definitely going to create more conversation and negotiation around compensation. Realtors who’ve not taken the time to educate their clients on what to expect, and then proceed to underperform will be a thing of the past. You deserve better, and you can bet that we are going to make sure these new standards are upheld in any transaction we participate in. Realtors will be required to demonstrate their value to the consumer or face a shortened career and we are here for it! Get excited, I know we are here in Augusta, GA, and the entire CSRA real estate market!
#NARLawsuit #HousingMarketUpdate #RealEstateNews
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