Do You Still Need To Pay Buyer’s Agents? NAR Lawsuit Explained

By Arizona Home Group

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It’s only natural for clients to be confused or ask about the NAR changes, especially if they’re in the market or planning to enter the market. One of the things that concerns homebuyers the most is whether they must pay their agent when looking at homes. That question cannot be answered with a simple yes or no. Depending on your negotiations, there are three ways you can pay a buyer’s agent.

1. Seller pays. This is the traditional way buyer agents get compensated, with sellers offering compensation to attract more buyers.

2. Buyer pays. In case the seller refuses to offer compensation, it’s the buyer’s responsibility to pay their agent.

3. Combination. For fairness’ sake, this option might be a good way to compensate the buyer’s agent.

Something to keep in mind is that even if the buyer pays their agent directly, you can still negotiate this as a part of the seller’s concessions. Aside from buyer’s agent compensation, another big change in the real estate process is the homebuyer’s mandatory signing of the Buyer Representation Agreement before viewing MLS-listed homes in all 50 states.

For buyers, this means that they should be more careful in choosing their agents, taking time to interview them and understand their services and commission requirements. Clear discussions about these important details should be done before signing the agreement, and having them start representing you.

If you have questions about the new NAR rules and regulations, please call (602) 571-3730 or email us. Our lines are open to help you.