Monthly Meeting August 2024 - REAL ESTATE SALES ARE CHANGING

Monthly Meeting August 2024

Real Estate Sales Are Changing

Practices from the proposed Realtor settlement became effective August 1, 2024.

IMPORTANT information you need to know, now!

The National Association of Realtors (NAR) has reached a preliminary settlement in a class action lawsuit following several years of litigation, including suits from home sellers and a legal battle with the U.S. Justice Department. As part of the settlement, NAR will:

• Prohibit offers to compensate the buyer's agent on multiple listing services (MLS).
• Require MLS participants working with buyers to enter into written agreements with their buyers before the buyer tours a home.

Amanda Parmer, President of Cape Fear Realtors and President of BlueCoast Realty Corporation, along with Michael Otelsberg of Berkshire Hathaway HomeServices, Carolina Premier Properties, will share the details of the NAR settlement in a town hall meeting.

Discussion Topics:

• Changes this settlement will bring
• Future of real estate sales
• New paperwork requirements
• Impact on Sellers and Buyers
• Payment of Buyer and Seller agent fees
• Potential new fee structures
• Opportunities these changes may creat

We'd love to see you there! Please RSVP, so we know how much food to order! Pizza & drinks (and cookies if you arrive early enough) will be served.

~Coastal REIA Board

• Guests: $25
• Active Military & Students: FREE with ID
• Coastal REIA Members: FREE