A New Chapter for Denver Real EstateMomentum in Denver’s housing market continues to point toward long-term stability. The gradual, sustained trends that have emerged throughout 2025 are
June 2024
Dated: June 7 2024
Views: 103
June 2024 Real Estate Blog: What the NAR Settlement Means for You
Hello everyone,
There’s been a lot of talk about the recent settlement involving the National Association of Realtors (NAR). To help
clear up any confusion, I want to explain what this settlement means for you as buyers and sellers in the real estate
market.
Before the Settlement:
The Multiple Listing Service (MLS) included a field for offers of compensation to the agent working with the buyer.
An agent could meet a buyer, show a home, write a contract, and get paid based on the MLS-advertised offer of
compensation, even if the buyer had not signed a buyer agreement.
Buyers often didn’t know how much their agent was getting paid or who was paying, as buyer agent compensation
was not visible to them.
After the Settlement:
The Multiple Listing Service (MLS) will no longer include a field for offers of compensation. This is an important
change aimed at increasing transparency and fairness in the real estate market.
Agents must have a written agreement with buyers before showing homes. This agreement outlines the agent’s
compensation and how it will be paid.
Buyers will know exactly how much their agent will be paid and who is responsible for the payment, fostering a
more informed and transparent process.
Addressing Common Misconceptions
Some sellers believe they were required to pay a buyer’s agent and won’t have to after the practice changes. The
truth is, sellers have never been required to pay a buyer’s agent, and this hasn’t changed. The only difference is the
removal of the MLS commission advertisement field. In Colorado, the seller listing agreements are structured so
that the seller’s broker pays the commission. This will not change after the settlement.
Despite inaccurate media coverage, the settlement does not set or lower agent fees. It simply ensures that fees are
transparently discussed and agreed upon before any transactions take place.
Conclusion
The NAR settlement represents a significant shift toward greater transparency in the real estate industry. By
requiring clear agreements between agents and buyers, it ensures that everyone is fully informed about
compensation and payment responsibilities from the start. This change not only protects consumers but also
promotes fair competition among agents.
As we approach the implementation date in August 2024, it’s crucial for you to work with an agent who is up to date
on the ever-changing real estate landscape. If you have any questions, please reach out to me. I’m glad to help!
Warm regards,
Chad Hines
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