The recent National Association of Realtors (NAR) settlement mandates significant changes in how real estate commissions are handled. Starting August 13th, home sellers will no longer be required to pay the commission for the buyer's agent. Instead, buyers will be responsible for negotiating and covering their own agent's fees. However, sellers can still offer concessions, such as covering part or all of the buyer's agent commission as an incentive. Additionally, commissions can be included in the overall transaction costs, allowing buyers to finance these fees as part of their mortgage. This shift aims to enhance transparency and competition in the real estate market, giving buyers more control over their expenses while still providing flexibility for sellers to attract buyers.
If you're thinking about living in San Diego California, we'd love to help! We would love to help you navigate the San Diego California real estate market. Just give us a call, shoot us a text, or send us an email, and we'd love to help you make a smooth move to San Diego California!
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🤔Thinking of Moving to San Diego California?😎
📱 Call or Text: 760-518-7240
📨 Email: nick@thewrightgroupsd.com
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