Changes to Realtor® Commission Rules: Complete Guide for Moreno Valley Homeowners

Real Estate Commission Changes 2024: What You Need to Know

The buzz is real! The real estate industry is experiencing one of its biggest shifts ever. From news outlets to the White House, everyone's talking about changes in how sellers compensate buyer's agents.

The Truth About the NAR Settlement

Let's clear the air. In March 2024, NAR President Kevin Sears announced a proposed settlement. Here's the real deal: NAR isn't admitting guilt – they're making changes so REALTORS® like me can continue helping families build wealth through homeownership.

What Actually Changed Regarding Compensation?

Real estate commissions can't be displayed in the MLS anymore. That's it!

Don't believe the hype when you hear "commissions are no longer required." As your REALTOR®, I need to set the record straight:

• Sellers can still choose to compensate buyer's agents, through Broker Cooperation or Credit
• Buyer representation remains crucial for smooth transactions
• Compensation is still part of the home price – it's just not listed in the MLS

Why Seller Compensation Makes Sense

Think about it:

• Many buyers are stretching their budgets for down payments and closing costs
• Remember when you bought your home? Seller compensation helped make it possible
• Most buyers need an agent's expertise but can't pay out of pocket

What Could Happen If You Don't Compensate?

• Your buyer pool MAY shrink – fewer qualified buyers can afford representation
• Unrepresented buyers might struggle with negotiations
• Transactions could become more complicated

Remember, today's sellers are tomorrow's buyers. Before deciding against compensation, consider how it might affect your next purchase.

Want to discuss how these changes affect your property specifically? Let's talk!