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Open Letter From Rugg Realty on the NAR Settlement 4/28/24

By
Real Estate Broker/Owner with Rugg Realty LLC Sun City Texas 512-818-6700 9000211

Open Letter From Rugg Realty on the

NAR Settlement 4/28/24

Text Version

Open Letter to Rugg Realty Clients Regarding NAR Changes

April 28, 2024

 

Greetings from Rugg Realty:

By now you have likely heard the National Association of Realtors reached a settlement of a lawsuit about how REALTORS® conduct business, namely how commissions are earned. The settlement has not yet been finalized by the courts, but we anticipate that will occur this summer.

For Buyers - Changes mandated by the settlement stipulate that buyer agents are forbidden to show a home for sale in the MLS to a prospective buyer unless they have a written buyer representation agreement with that person(s) before the showing. The State of Texas has had Buyer Representation documents available for many years and Rugg Realty preferred to have a Buyer Agreement signed before showings.  However, we never insisted on this in the past and allowed a mutual understanding with buyers to guide our efforts. Unfortunately, this choice has been taken out of our hands.

For Sellers - Compensation charged by Brokers has always been negotiable. Rugg Realty believes the vast majority of sellers will continue to see the wisdom & obvious advantages of offering a monetary incentive for ready, willing, & able buyers to offset their expenses of a purchase. This has been a routine part of a seller’s cost in the past. The mechanics of how this will be accomplished are not yet finalized, but this provision is part of the settlement.

All of us at Rugg Realty have earned the Accredited Buyers Representative designation. We have a long-standing reputation of being straight shooters playing all the cards on the table face up, with no surprises. We will continue our dedication to our clients by putting their needs before our own.

For further information please contact your Rugg Realty agent or Brian Rugg at 512-818-6700.

 

Brian Rugg, broker

Posted by

 

Brian Rugg

Rugg Realty, Sun City Texas, Georgetown TX

Serving consumers interested in Sun City Texas New & Resale Homes For Sale and Home Owners Interested in Selling Their Sun City Texas Home.

Sun City Texas Real Estate. Sun City Texas MLS Search. Sun City Texas by Del Webb. Sun City Texas New Homes, Sun City Texas Resale Homes

www.RuggRealty.com

Brian@RuggRealty.com

Sham Reddy CRS
Howard Hanna RE Services, Dayton, OH - Dayton, OH
CRS

That makes a lot of sense!!!

Buyer agency agreements have been available in Ohio for the last 30 years, its just most buyer's agents don't use it since members of NAR were required to offer buyers compensation as published in the MLS, that's going away.

Apr 28, 2024 01:13 PM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Enjoyed your blog page, and I added you as a follower. I would love the follow back. Also, then we both get 50 points. Bill

Bill Salvatore, Realtor- Arizona Elite Properties

Apr 29, 2024 05:31 AM