“This is great news for our industry as it will require more transparency to the consumer, which EmpowerHome has been practicing and teaching, not just to our agents, but to the entire industry for many years. The industry will now be forced to follow our lead and start being transparent with their clients which we are a firm believer in at EmpowerHome.” – Sarah Reynolds, CEO of EmpowerHome

On March 15, 2024 the National Association of Realtors announced that they have proposed a settlement to the class action lawsuit where sellers claimed real estate agents colluded to inflate brokerage commissions. Under the proposed changes, both buyers and sellers will negotiate fees separately with their agents, a departure from the traditional model where seller fees covered a significant portion of all Broker commissions, including those of the Buyers Agent. At EmpowerHome, we view this as a positive step towards transparency and believe this will enable buyers and sellers to make informed decisions based on the value they receive rather than conformity to traditional practices.

Despite the proposed changes, the fundamental dynamics of real estate transactions remain unchanged. Buyers will continue to buy houses, and sellers will continue to sell houses. While the proposed changes may alter the compensation structure for some realtors, it does not diminish the importance of being represented by the best professionals when buying or selling a home. Moreover, it does not diminish the inherent power of owning real estate.

As a seller, you have the autonomy to determine how much, if any, you want to contribute towards a buyer’s agent compensation. This flexibility grants you the opportunity to maximize the potential of your home sale. By understanding the principles of supply and demand, we at EmpowerHome assist sellers in creating demand through extensive marketing strategies and access to a vast network of buyers.

“We embrace industry changes that put the needs of the client above all else. Our commitment to providing exceptional service and supporting our clients in achieving their real estate goals remains steadfast.” –Sarah Reynolds, CEO