TRET the Podcast Episode 18: The NAR Settlement Part 2: The Practical Stuff

Join TRET for it's 18th episode, as Stephon discusses the practical side of the NAR Settlement .

TRET Episode 18: The NAR Settlement Part 2: The Practical Stuff 

The Origin of the 6% Commission Standard

The recent National Association of Realtors (NAR) Settlement is in the process of changing how many real estate brokers and salespeople conduct business. The terms of the settlement all but abolish cooperative compensation amongst brokers. Although this may not be a substantial change for markets in which every buyer offers through a Buyer's Broker and every seller is automatically represented by a Seller’s Broker, the effects will be greatly felt in other markets. Some of the larger real estate markets have developed complex systems of agency that will now be simplified by one premise--in a residential real estate transaction, a buyer will now have to pay a Buyer’s Broker and seller will have to pay a Seller’s Broker.