Arizona Home Seller NAR Settlement FAQ
If you are considering selling an Arizona home and have questions about how the NAR (National Association of Realtors) lawsuit result will affect your home selling experience, then we are here to answer your questions.
FAQ
Yes. Home sellers will be allowed to offer concessions to a buyer and these concessions could include covering the commission of a buyer’s agent or other costs such as repairs, closing costs or loan fees.
No. Offering a commission to a buyer’s agent is not required though you and your agent should discuss how offering or not offering a commission will affect the marketing of your home.
No. Commissions are not set by law and are always negotiable.
No. After August 1, 2024, there will no longer be fields in the MLS to allow such advertisements. Agents will be allowed to tell other agents about the commission offer, but the information will not be allowed in the MLS or on aggregator sites like Zillow or Realtor.com. Agents will have the option to advertise the fee on their own website, via social media or marketing materials. You will still have the choice of offering compensation to buyer brokers. You may consider doing this as a way of marketing your home or making your listing more attractive to buyers. Talk to your agent about how he/she will get the word out about a potential commission split.
A seller will have several options and the listing agent may also share a portion of his/her commission. Please review the NAR FAQ document below for more information.
Here are some sample forms that you might wish to review before hiring an agent to list your Arizona home for sale.
Below is a detailed list of FAQ’s direct from the National Association of Realtors.
The real estate industry is going through some major shifts and challenges–consumers will be affected by these changes and as professionals who work hard to protect the best interests of our clients, we are here to help you achieve your real estate goals. Please let us know if you have any questions about the NAR settlement or the Arizona home sale process.
