The National Association of REALTORSยฎ (NAR) has recently implemented significant changes to enhance transparency and fairness in real estate transactions. These reforms, effective August 17, 2024, include mandatory written agreements between buyers and their agents before touring homes, ensuring clear communication of services and compensation.
Additionally, offers of compensation are no longer listed on Multiple Listing Services (MLS), promoting more direct negotiations between buyers and sellers. These updates aim to empower consumers with greater clarity and control throughout the home buying and selling process.