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Here's What the NAR Settlement Means For You [Homesellers]
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In this episode of Get Me Ready To Sell, hosted by Jeff Jones, a realtor, coach, and entrepreneur, we discuss the impact of the National Association of Realtors (NAR) settlement on home sellers. The episode explains how the settlement will change the way real estate commissions are handled, particularly the compensation for buyer's agents, starting August 17th. Jeff provides background on the lawsuits leading to the settlement and emphasizes the importance of sellers having intentional conversations with their realtors about commission structures and their options moving forward. The podcast aims to help home sellers navigate these changes and make informed decisions when selling their homes.
- 0:00 - Introduction, NAR Settlement and Its Implications for Home Sellers
- 1:47 - Key Dates and Changes from the NAR Settlement
- 2:44 - Difference Between Realtors and Licensed Real Estate Agents
- 4:58 - Historical Context of Buyer and Seller Representation
- 9:00 - Compensation Structure in the Real Estate Industry
- 11:07 - Impact on Cooperation Between Agents
- 12:57 - Seller’s Options Post-Settlement
- 15:13 - Offering Concessions and Ensuring Compliance
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