Latest NAR Changes: What You Need to Know

By Ressie Krabacher

As a local resident and top performing REALTOR® in Chicago, Ressie Krabacher is relentlessly focused on helping her clients move forward. She serves as an advocate and advisor for buying or selling, overseeing relocation, or adding home ownership to their financial goals.

You’ve likely heard about the crucial changes in how you can list your home, particularly regarding broker commissions. These changes came from a settlement by the NAR. I’m going to break down these changes so they’re easier to understand.

If you’re selling your home, you still have the option to offer compensation to buyer brokers. This can be a strategic move to make your listing more appealing to potential buyers. However, conditions need to be observed.

As your agent, I’ll need to fully disclose any payments we consider offering to buyer brokers. These arrangements must be in writing and detail any agreed-upon payments, and I’ll need your approval before proceeding.

If you decide to offer compensation, I cannot list this offer on the MLS. The MLS is where agents share information about properties. However, I can still promote the offer of compensation for your home on other platforms like social media, websites, and fliers.

If you’re wondering whether you can still offer seller concessions, yes, you still can, and I can list those on the MLS. We’ll discuss that further in my next post, along with things that did not change after the NAR settlement.

Please reach out if you have any questions. You can call me at (773) 965-4100 or email me at Ressie@KW.com. As always, I’m here to serve.