08/21/2024
Home Sellers Did you know that new Florida Real Estat Laws go into effect this month?
HERE’S WHAT THE NAR SETTLEMENT MEANS FOR YOU!
As a home seller, you have a wide range of choices when it comes to listing your home. Agents
who are REALTORS® are a trusted source of advice and stand ready to help you navigate this
complex process and make the choices that work best for you. NAR’s recent settlement has
led to several changes related to broker commissions that benefit sellers, and we wanted to
clearly lay them out for you.
You still have the choice of offering compensation to buyer brokers. You may consider doing
this as a way of marketing your home or making your listing more attractive to buyers.
Your agent must conspicuously disclose to you and obtain your approval for any payment or
offer of payment that a listing broker will make to another broker acting for buyers.
This disclosure must be made to you in writing in advance of any payment or agreement to
pay another broker acting for buyers, and must specify the amount or rate of such payment.
If you choose to approve an offer of compensation, there are changes to how this can
happen.
You as the seller can still make an offer compensation, but your agent cannot include it on a
Multiple Listing Service (MLS)—MLSs are local marketplaces used by both buyer brokers
and listing brokers to share information about properties for sale.
With your written permission, your agent can advertise concessions offered on your listing
via off-MLS platforms.
These settlement practice changes will go into effect August 6.