3 Big PROPOSED Changes from the NAR Settlement

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You may have heard headlines spelling the doom and gloom for real estate agents but what REALLY is happening to real estate? This video goes into 3 larger topics for changes coming out of the NAR settlement. Yes, there are other changes and will be more coming in the future but these are the biggest 3 that will make an impact in the shortest time frame.
1) Co-Broke compensation will STILL exist. The advertising of how much that co-broke is will not be allowed on the MLS and potentially other websites sourcing their data from the MLS.
2) Buyer agents must have SIGNED buyer broker agreements prior to showing houses. This change brings a ton of other questions surrounding this topic. One the most consumers are unaware of. Such as VA buyers legally not being allowed to pay commissions or what about first time homebuyers who are tight for cash but can't afford to pay for their agent in the event the seller is not offering a co-broke. Topics for another day because there are some serious red flags that come about with that. Overall, I think buyer broker agreements becoming mandatory is GREAT for forcing agents to prove their value to consumers.
3) Paperwork is going to have to be re-written in order to accommodate for the changes stemming from the proposed changes.
These changes are set to go into effect as soon as mid- July but that is lightning quick considering the beau acracy that they will have to go through to make the changes.
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