Dear Clients,
I hope this message finds you well. Today, I want to bring to your attention a significant development in the real estate industry that could impact both buyers and sellers alike.
On March 15th, the National Association of REALTORS® announced a proposed settlement aimed at resolving litigation claims concerning broker commissions. This proposed agreement involves not only NAR but also state and local REALTOR® associations, along with over 1 million REALTOR® members nationwide.
As your trusted real estate advisor, I want to assure you that we are closely monitoring this situation and its potential implications for you, our valued clients. While we await court approval for this proposed settlement, it’s essential to understand its potential effects.
Here are the key points you need to know:
- Assessment of Impact: Texas REALTORS® is actively evaluating how this settlement could affect ongoing litigation in Texas, our organizational policies, and the documents we use in real estate transactions.
- Compliance and Transparency: Should the settlement receive court approval, Texas REALTORS® is committed to ensuring compliance with its terms. We are particularly focused on issues related to client representation and broker compensation, striving to address them transparently and effectively.
- Commission Negotiation: It’s crucial to dispel any misconceptions about standard commissions. Before and after this settlement, commission fees and compensation structures have always been subject to negotiation. This settlement does not change that fundamental aspect.
- The Role of REALTORS®: In today’s competitive real estate market, the expertise and advocacy of REALTORS® are more valuable than ever. Whether you’re buying or selling, having a knowledgeable professional by your side can make all the difference in navigating complex transactions and securing the best possible outcome.
Rest assured, as your dedicated real estate advisor, I am here to keep you informed every step of the way. Please don’t hesitate to reach out if you have any questions or concerns about this matter or any other aspect of your real estate journey.
Thank you for your confidence in our team. We look forward to continuing to serve you with the highest level of professionalism and integrity.
Your Realtor For Life-
Mary Beth Harrison