There's been a lot of buzz lately about new regulations affecting real estate
commissions and the role of Realtors®. While this might seem like a big shift, here in
California, we've already been practicing many of these principles for some time.
For example, our MLS has long allowed listing a property with a $1 commission for
the buyer's agent (though rarely chosen by sellers), and platforms like Redfin and
Zillow have been transparent about buyer agent commissions for years. Top-notch
agents, like myself, have always operated the same way.
What's New for other Areas?
The national conversation focuses on regions where transparency hasn't been the norm. A recent $418 million settlement between the National Association of Realtors® (NAR) and consumers has created some confusion, and I understand that.
What the Settlement Means for Buyers
The key takeaway is that buyers will now need to have a formal agreement with their
chosen agent regarding commission. This might seem different for experienced
buyers used to a "default" commission included in the seller's fees. However, it
shouldn't be a surprise.
The Value of Realtors® Remains Strong
Just like you can choose between a discount lawyer and a seasoned legal
professional, there are always options for real estate commissions as well. But
there's a reason experienced professionals exist. Both real estate agents and
lawyers deal with complex, emotionally charged situations. Their years of experience
and education provide invaluable insights you won't find readily available online.
Why Choose an Experienced Realtor®?
- Expert Guidance: Like lawyers interpreting laws, real estate agents navigate
market dynamics, pricing strategies, and property conditions. They can
prevent costly mistakes through their expertise. - Proven Track Record: Experienced real estate agents have a history of
success, ensuring a smooth and successful transaction for you.
Change is inevitable, but the value of a dedicated professional cannot be overstated.
My goal is to earn and maintain your trust as your real estate advisor, both now and
in the future. Have any questions? Feel free to call me anytime at 310.594.5705.
Let's chat and navigate this changing landscape together!
