I’ve received many questions about the NAR Settlement that’s been in the news these past few days and I’d like to share some of my thoughts. For context, I think it’s important that you know I was a homeowner and a real estate investor before I became a Realtor.  Over 24 years, I’ve owned four primary residences, been a buyer or seller in over 30 investment transactions and have acted as a broker in over 1400 sales.  My sharing comes through a variety of both experiences and perspectives.

Here’s what I think:

1. People need a place to live AND real estate is one of the best ways to build wealth.
2. Most people want and need the guidance of an expert when buying and selling.
3. Experts are professionals who are, and should be, paid for their time & expertise.

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I doubt that anyone would dispute the points above.  What the NAR Settlement calls into question is how compensation is given to Realtors and who pays.

In my opinion, the current system is very efficient and works well for such a nuanced process.  The settlement will add rules that will require changes to the system.  No one really knows how those changes will manifest in the long term, but we will adapt.

Here’s what I do know:  If you are looking to buy or sell a home, it’s business as usual with, perhaps, a little more discussion.  Previously, when you’ve called us for help, you probably made some assumptions about how we get paid for service.  In the coming months, we might have to spend a little more time talking about it so that our expectations are aligned.  We are up for those conversations and are ready to have them with you!

There is misinformation and noise in the media right now.  Does that really surprise you?  If you are a curious person, I invite you to listen to what’s being said.  And if you are thinking about buying or selling a home, you should call us for help.  For 20 years we’ve built our business on trusted relationships with people like you.  And that isn’t going to change. 

With Gratitude,

– Scott