The 2024 NAR settlement addressed claims brought on behalf of home sellers concerning broker commissions. It is distinct from Department of Justice proceedings. For the current explanation, see NAR settlement FAQs.
Understanding the Settlement’s Local Impact
The 2024 NAR settlement addressed claims brought on behalf of home sellers concerning broker commissions. It is distinct from Department of Justice proceedings. For the current explanation, see NAR settlement FAQs.
Simply List sale plans use a percentage of the sale price payable at closing: Without Help is 0.35%; With Help is 0.75%, or 1% when the buyer is unrepresented. The 1% replaces the 0.75% With Help fee. If the property does not sell, no Simply List commission is due. Optional purchases and disclosed cancellation charges are separate.
Impact on Local Real Estate Markets
In Metro Atlanta:
- Marietta: Homeowners looking to sell might find models like Simply List particularly appealing due to the potential savings on commissions, which can be reinvested into home improvements or toward the purchase of their next home.
- Roswell: The city’s upscale real estate market might see increased activity as more sellers are encouraged to list their homes, knowing that they can retain a greater portion of their sale proceeds.
- Sandy Springs: As one of the more affluent areas in Metro Atlanta, the community could benefit from a surge in real estate transactions facilitated through streamlined services and lower fees, appealing to both buyers and sellers who are cost-conscious but demand high-quality service.
Conclusion
The 2024 NAR settlement addressed claims brought on behalf of home sellers concerning broker commissions. It is distinct from Department of Justice proceedings. For the current explanation, see NAR settlement FAQs.
