New Real Estate Rule goes into effect 8/17/2020

There have been plenty of headlines in the media causing confusion. To clarify some of the misinformation about the settlement, I want to provide a few facts:

Sellers retain, as they always have, the discretion to offer compensation to buyer’s brokers. The settlement does not prohibit their ability to do so.

Commissions have always been and will continue to be negotiated through transparent conversations with our clients. We strongly believe strongly in transparency around broker compensation. While buyer's agent commission can no longer be displayed on the MLS, it can still be advertised, offered, and negotiated outside of the MLS.

Every buyer represented by a NAR-affiliated agent is now required to sign a Buyer Representation Agreement formalizing the relationship between the buyer and broker before touring properties, something that has been required in many states for over a decade.

Buyers deserve representation at every income level. Our experience has shown that transactions flow more smoothly when there is professional representation on each side, facilitating clear lines of communication, which benefits all parties involved.

Equity Union agents provide tremendous value to our clients. As a result, we will continue to encourage a transparent commission conversation that reflects the time, effort, expertise, and support we invest in each transaction.