Hey there, Garman Homes enthusiasts! The buzz around real estate commissions has reached a high note, thanks to the latest settlement news from the National Association of REALTORS® (NAR). If you're a Realtor or someone curious about how this affects the housing market, we've got you covered!

There’s been a lot of chatter and, frankly, some confusion about what’s happening with real estate commissions. Despite what you might have heard, the National Association of REALTORS® never set a standard commission rate. Commissions have always been up for negotiation between brokers and their clients, and that isn’t changing anytime soon.

What's changing?

For one, the Multiple Listing Service (MLS), which is a Realtor's source for pretty much all of the housing inventory available in the market, now has a new rule, which states that compensation offered will no longer be listed, but can still be sorted out directly with clients. The other big change is that Realtors will now have to sign written agreements with buyers prior to showing them homes, ensuring their expected compensation is clear and upfront.

What Does This Mean?

The National Association of REALTORS® (NAR) is committed to ensuring these changes benefit everyone involved. Realtors will continue to work their magic, helping buyers navigate the market with expertise and care.

While these changes might seem big, they’re designed to protect and benefit both Realtors and consumers. We’re all about building great homes and strong partnerships, and we’ll continue doing just that.

We are proud to partner with our Realtor friends and will continue to offer up to 2.5% commission compensation for the part they play in making home ownership a realty. Thank you to all of our Realtor partners for the fantastic work you do!