Be informed about the buyer's agent commissions after the NAR lawsuit.
The recent NAR settlement has raised concerns among buyer’s agents about commission earnings, particularly in Pennsylvania, where buyer’s agency has been mandatory since the late 1990s. However, agents in Pennsylvania and 17 other states are already equipped with the tools needed to overcome this settlement confidently. Here are two steps to ensure commission earnings:
1. Hold a buyer consultation with your prospective home buyers. Conduct thorough consultations to educate clients on the homebuying process, clarify responsibilities, and establish a strong working relationship.
2. Establish your working relationship with the buyer. Utilize a buyer agency contract to outline terms, duties, and compensation structure clearly, ensuring transparency and avoiding commission disputes.
“Hold a buyer consultation with your prospective homebuyers.”
By proactively using buyer agency contracts and seeking guidance from industry professionals, agents can get the better of post-NAR settlement challenges and secure their rightful commissions.
For agents seeking clarity and support in maximizing commission earnings post-NAR settlement, schedule a strategy session with our team. We’re here to help you every step of the way.
