SWMAR adopts new NAR policies on broker commissions, banning MLS offers and requiring written buyer agreements.
Southwestern Michigan Association of Realtors (SWMAR) informs members and buyers of new rules for home sales, following a legal settlement with the National Association of Realtors (NAR) on broker commissions. Offers of compensation to realtors on Multiple Listing Services (MLS) are banned, requiring buyers to negotiate realtors' commissions separately. Realtors must enter written buyer agreements before touring a home. Despite complexity, SWMAR supports the new NAR policies, and the Southwest Michigan real estate market remains strong with increased sales and inventory in July.
August 25, 2024
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