Changes to the real estate process went into effect this August. Since they were announced, we have heard a lot of misinformation about what this does and doesn’t mean for homebuyers and sellers.
Below, we have addressed three common myths about these changes and the facts to help you better understand how these changes affect you.
MYTH 1: The NAR settlement will eliminate real estate fees.
FACT: The settlement aims to enhance transparency in compensation. Buyers and sellers in Texas can continue to benefit from hiring REALTORS® to guide them through real estate transactions with skill, care, and diligence.
MYTH 2: Buyers will have to pay their REALTORS® out of pocket.
FACT: There are various ways buyers may pay for the service of brokers. There will still be the option to ask the seller to
cover the cost of their buyer’s agent’s fee.
MYTH 3: The NAR settlement will significantly reduce the cost and quality of real estate services.
FACT: REALTORS® remain committed to providing our knowledge, attention, and dedication to your home buying or selling experience, guiding you through the process. The services provided by brokers and the fees they charge are independently set by each brokerage. This will not change. Buyers and sellers will continue to have a choice in what broker to hire based on the criteria that matter most to them.
The real estate process may seem complex, but it doesn’t have to be confusing.
If you have questions or are looking to buy a home, we are here to help. Contact us at info@KennethJones.com.
Posted by Kenneth Jones Team on
Leave A Comment