In March, the National Association of REALTORS (NAR) announced a settlement agreement which would resolve litigation brought on behalf of home sellers related to broker commissions.
Principal Broker of Century 21 LeMac Realty, Jewel Pendergrass, spoke with KTLO, Classic Hits and The Boot News about the settlement and how it will affect the local real estate market.
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Principal Broker of ERA Doty Real Estate, Steve Doty, states buyer agency agreements have been around since the 1990s.
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Pendergrass says another change is the addition of a buyers representation agreement.
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Doty states these changes came about due to consumers asking for transparency.
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