Every Realtor I've spoken with in the last 3 months is aware of the NAR Settlement and most of us in the industry have read the FAQ's, sat through webinars and participated in discussions with our local MLS Boards about the changes taking effect on August 17, 2024, but every consumer I've mentioned it to has limited to no awareness of the changes. I personally believe that the impact of the change depends on our professionalism and communication to our clients and colleagues who are representing "the other side". I've heard many suggestions of how we might circumvent the changes to continue to do business as usual, and hope by now we all realize, there is no getting around it. There have been and will continue to be changes at all levels in our industry and at NorthStar Realty we're dedicated to embrace this change, and many others that will come, and to keep our focus on serving our clients. Much of what we do is educate, and after spending time on this issue, I believe the changes coming from the settlement will help us educate consumers better.
If you are a consumer the main points to know are that there are different types of relationships you can choose to have with a real estate professional. The type of relationship and subsequent fee for services is negotiable, as it always has been, and will be confirmed by a written agreement at the front end of our relationship.
If you are a fellow real estate professional reading this we invite you to contact us directly about cooperation questions on our listings. We look forward to working with each of you and opening the lines of communication early in the process.
