New Real Estate Rules in 2024: What Home Sellers Need To Know

By Lee A. Bennett Jr.

Lee Bennett is a licensed Real Estate Broker Associate in the state of Florida who is passionate about working with home buyers and sellers in finding their dream property. Lee understands that a client who invests in real property makes an investment of a lifetime. Thus, Lee treats the process of identifying and choosing the right property as both an art and a science that deserves utmost attention and care.

If you’re considering selling your home but worried about the horror stories you’ve heard about buyers’ commission fees, 2024 is your lucky year. Since August 17, the National Association of Realtors laid out new rules that will revolutionize the way payment offers are handled, giving sellers more control over their home sales. Today, I will share the three main advantages of new NAR rules for sellers:

1. More control over payment offers. One of the biggest changes here is the MLS will no longer automatically display payments offered to buyer agents. This change means you now have more control over how and where this information is shared. Whether you prefer using your broker’s website, fliers, or direct emails, you can target the right agents and buyers without broadcasting your offer to everyone.

2. Increased flexibility for sellers. Although you can still offer payments to buyer agents, you have the flexibility to design your payment strategy in alignment with your specific selling goals. By removing the automatic display of payment offers on MLS sites, you can negotiate better terms and craft a more strategic selling approach. Incentives such as covering certain closing costs can still be listed, but they won’t be tied directly to the payment of the buyer’s agent, giving you more freedom in crafting offers that attract serious buyers.

3. Greater transparency and smoother negotiations. Another benefit of these changes is the requirement for buyers to have a written agreement with their agents regarding payment details before they start touring homes. This requirement increases transparency and provides clarity, reducing the chances of surprises down the line. With smoother negotiations and clearer expectations, the selling process becomes more streamlined and beneficial to you.

If you have any questions or want to explore how these new rules can benefit you, don’t hesitate to reach out. Just call 813-316-6224 or email bennettlee24@yahoo.com. I would be more than happy to discuss the best strategies to make your home sale successful. I look forward to hearing from you!