The Proposed NAR Settlement

Dear clients and friends,

Today, I want to discuss a topic that’s been stirring quite a bit of conversation in the real estate community: the proposed National Association of Realtors settlement of the Sitzer-Burnett case. With so much conjecture, opinion, and forecasting out there, it’s important to focus on what we actually know to be true. Here are three key points that might clarify the situation for you:

1. The Settlement Is Pending Approval First and foremost, the proposed settlement hasn’t been finalized yet; it still requires court approval. The earliest we expect any changes to take effect is around mid-July. This pending status means that while we can prepare, we must wait for official decisions before any real changes impact our industry.

2. Commissions Have Always Been Negotiable A common misconception is that real estate commissions are set in stone. However, commissions have always been negotiable, managed on a deal-to-deal basis. This fundamental aspect of real estate transactions provides both buyers and sellers with the opportunity to negotiate what they pay in commissions. While the specifics of how commissions are negotiated might evolve due to this settlement, the ability to negotiate remains constant.

3. Our Commitment to Transparency At The Chabris Group, we have consistently used buyer representation agreements for the past seven years. These agreements are our pledge to transparency, clearly outlining our fees and how we are compensated. This practice isn’t new to us; our clients have always understood how and why they compensate us, which fosters a relationship built on trust and clarity.

If you have any questions about this settlement or its potential impact on your upcoming real estate decisions, please don’t hesitate to reach out. There is a lot of misinformation—and even disinformation—circulating out there. We are here to provide you with accurate, straightforward information and help you navigate these changes with confidence.