How the NAR Settlement Impacts Home Sellers on Long Island

How does the NAR settlement impact home sellers on Long Island?
The recent NAR settlement changes how real estate commissions are handled and disclosed, giving sellers more transparency and options. On Long Island, this means sellers need to understand new commission rules, buyer agent agreements, and how to work with an experienced listing agent like Eric Berman REALTOR to navigate the process.

What Is the NAR Settlement?

The National Association of REALTORS® (NAR) reached a settlement in 2024 that reshaped how real estate agent commissions are displayed and negotiated.

Key points:

• No more default offers of buyer agent compensation in MLS.

• Buyer agents must have written agreements with their clients.

• Greater transparency around what sellers and buyers pay.

These changes went into effect in August 2024, and they impact every home sale in New York, including Long Island.

What This Means for Long Island Home Sellers

Selling your home now requires clearer conversations about commissions and buyer expectations.

1. Commission Negotiation Is More Direct

Sellers are no longer expected to automatically offer buyer agent commission through MLS. Instead:

• You decide whether to offer compensation, and if so, how much.

• Any offer is communicated outside the MLS.

2. Buyer Agents Are More Selective

Because buyer agents now must have agreements with their clients, they may be more intentional about which homes they show. Competitive listings will often still include an incentive for buyer agents.

3. Transparency for Sellers

The settlement creates more clarity in the transaction:

• You’ll know exactly what you’re paying for

• Buyers know what they owe their agent

• Fewer hidden assumptions

Should You Still Offer Buyer Agent Compensation?

Eric Berman REALTOR advises sellers on a case-by-case basis. While you’re no longer required to offer it in MLS, here’s what to consider:

• Offering compensation can attract more buyers—especially first-time buyers with limited cash.

• Not offering compensation may limit your buyer pool, since some buyers won’t want to cover those fees.

The right choice depends on your home, location, and market conditions.

How This Affects Pricing Your Home

Because buyers may need to pay their agent directly, affordability is impacted. On Long Island, where property taxes and closing costs are already high, this could affect what buyers can offer.

Eric Berman helps sellers adjust pricing strategies to account for these changes while still maximizing value.

What Sellers Need to Do Differently in 2025

1. Have a clear conversation with your agent. Understand exactly what you’re paying for and how buyer agents are being incentivized.

2. Be flexible. Some buyers may ask for concessions to cover their agent’s fee.

3. Stay competitive. In certain price ranges, offering compensation could mean the difference between multiple offers and sitting on the market.

Why Working with Eric Berman REALTOR Matters

Eric has already guided Long Island sellers through these changes since the rules took effect. His approach includes:

• Transparent commission breakdowns

• Clear seller net sheets (what you walk away with after costs)

• Advice on whether offering buyer agent compensation makes sense for your home

• Expert marketing to ensure maximum visibility regardless of commission structure

Final Thoughts

The NAR settlement has shifted the selling landscape, but it doesn’t have to complicate your sale. With the right strategy, you can still attract buyers, negotiate strong offers, and sell successfully on Long Island.

Want clarity on how these changes affect your sale?

Contact Eric Berman REALTOR today for a consultation and personalized selling strategy.

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Wondering how the NAR settlement impacts home sellers on Long Island? Eric Berman REALTOR explains commission changes and what it means for your sale.