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Adapting to National Association of Realtors (NAR) Evolution: Lenders' Insights
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Welcome to Lunch and Learn with Melinda - your go-to channel for insightful discussions on the world of lending and real estate in Florida. In our second look at the implications of the National Association of Realtors (NAR) $418 Million settlement, we will offer a lender's unique perspective.
It's important to note that the situation is still evolving and subject to court approval, so stay tuned for updates. As of right now, there's a significant shift in how buyers will engage with and compensate their agents.
In this video, we're diving into a significant change that's happening in the real estate world, especially for buyers. For years, sellers have typically offered a commission in the MLS that would cover the cost of the buyer's agent. This meant that as a buyer, you didn't have to directly pay your agent.
However, things are shifting. Now, buyers will be responsible for paying their agent directly, based on the negotiated fee in the buyer's brokerage agreement. This change means that buyers need to budget for this additional cost at closing, which could impact the amount of money needed to finalize a purchase.
We'll discuss how this change could affect buyers, including the potential for more negotiations regarding seller-paid closing costs. Join us to understand what this means for you as a buyer in today's real estate market.
Stay tuned for more updates on this evolving story, along with other changes and developments in the Florida real estate market. Keep up with the latest by joining us weekly for insightful news!
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