How Does the Recent NAR Settlement Affect Selling a Home in Bayside, NY?

Conversational Question: How does the recent NAR settlement affect selling a home in Bayside, NY?

Answer: The recent NAR (National Association of REALTORS®) settlement changes how real estate commissions are structured and disclosed. In Bayside, NY, it means more transparency for sellers, optional buyer agent compensation, and clearer communication about who pays what. Eric Berman REALTOR helps Bayside sellers navigate these updates while maintaining a smooth, compliant transaction.

What the NAR Settlement Is About

The 2024 NAR settlement addressed how buyer agent commissions are offered and displayed. For decades, sellers commonly paid both their listing agent’s fee and the buyer’s agent’s fee as part of the total commission.

Now, compensation is negotiable and must be clearly defined. This doesn’t mean buyers won’t have agents — it simply changes how their compensation is agreed upon and communicated.

What’s Changing for Bayside Home Sellers

1. Buyer Agent Commissions Are No Longer Pre-Set

Sellers are no longer required to offer compensation to buyer agents through the MLS. However, they can still choose to as part of their marketing strategy to attract more buyers.

2. Commission Discussions Must Be Transparent

• Sellers now sign clear written agreements outlining what they’ll pay.

• All commission details must be discussed upfront — no assumptions or hidden terms.

3. Buyer Representation Agreements

Buyers now sign contracts with their agents specifying exactly how that agent will be paid. This creates accountability and clarity for all sides.

What Stays the Same

• Sellers still work with listing agents like Eric Berman REALTOR to market their home, negotiate offers, and close the sale.

• Commission rates remain negotiable — they always have been.

• Homes that are priced and marketed well continue to sell quickly in Bayside’s strong market.

How This Impacts Bayside Sellers Specifically

1. More Flexibility: You decide whether to offer buyer agent compensation.

2. More Transparency: Buyers will know how their agent is paid.

3. More Competition: Buyer agents may prioritize homes that offer compensation, depending on their clients’ agreements.

For example:

• Offering a buyer agent commission can still help your Bayside home stand out — especially in co-op-heavy areas like Bay Terrace, where agents often guide clients toward listings with established compensation.

How Eric Berman REALTOR Helps You Adapt

Eric Berman REALTOR ensures Bayside sellers stay ahead of these changes by:

• Explaining exactly how compensation works under the new rules.

• Reviewing your options for offering buyer agent incentives.

• Crafting MLS-compliant listing language that meets NAR and state guidelines.

• Using Compass’s robust marketing network to reach both buyers and agents effectively — regardless of how compensation is structured.

Common Misconceptions

• “I have to pay both agents.” Not necessarily — it’s your choice.

• “Agents can’t work together anymore.” They can, but agreements must be transparent.

• “This hurts sellers.” In reality, it gives sellers more control over costs and flexibility in negotiations.

Final Thoughts

So, how does the recent NAR settlement affect selling a home in Bayside, NY? In short — it introduces more flexibility and transparency, not confusion. Sellers like you can now choose how to structure compensation while still benefiting from full-service marketing and representation.

With Eric Berman REALTOR guiding you through every step, you can stay compliant, informed, and positioned for the best possible sale outcome.

👉 Have questions about the new rules? Contact Eric Berman REALTOR today to discuss how the NAR changes impact your Bayside home sale.

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How does the NAR settlement affect selling a home in Bayside, NY? Eric Berman REALTOR explains new commission rules and how sellers can benefit.