https://www.youtube.com/watch?v=XzdD04fmtwY
Here are the 5 changes coming this summer:
- Buyer Representation Agreements Required. Agents working with buyers must sign a written buyer representation agreement with the buyer before the agent can show a home listed on an MLS.
Unless inconsistent with federal or state law, the buyer representation agreement must include at least these things:
1) Agents must disclose the amount or rate of compensation they will receive or how this amount will be determined.
2) The amount of compensation must be set in the agreement, such as a percentage or dollar amount, and cannot be open-ended. For example, the agreement cannot say, “buyer broker compensation shall be whatever amount the seller is offering to the buyer.”
3) Agents cannot receive compensation for brokerage services from any source more than the amount or rate agreed to in the buyer representation agreement. For example, an agent could not accept an offer of cooperative compensation for more than the amount or rate agreed to in the buyer representation agreement. - Offers of Cooperative Compensation Cannot Be Made On the MLS.
1) Agents cannot make offers of cooperative compensation on the MLS. MLSs must eliminate all broker compensation fields on the MLS and prohibit the sharing of offers of cooperative compensation in any other MLS field. NAR (and any MLSs released under the settlement) also cannot create or support any non-MLS mechanism (such as an internet aggregator’s website) for sellers or listing agents to make offers of cooperative compensation to buyer agents.
2) Sellers can offer concessions to the buyer in a public comment field in an MLS listing if the concessions are not conditioned on paying the buyer agent’s commission. However, as part of the negotiation of the purchase contract, sellers and buyers can agree to apply the concessions to the buyer agent’s commission. As a practical matter, even though it cannot be called cooperative compensation, the amount of a seller's concession can match the amount the seller would offer as cooperative compensation as part of the contract negotiations. - Offers of Cooperative Compensation May Be Made Off the MLS.
1) Nothing in NAR’s settlement prohibits sellers or listing agents from making offers of cooperative compensation to buyer agents off the MLS (e.g., by email, newsletter, calls, texts, etc. Be aware that all communications must always be TCPA compliant.) Before listing agents can offer compensation to buyer agents, they must disclose and obtain seller approval for any offer in conspicuous language that stands out and is clearly visible.
2) An MLS cannot require agents to make or accept offers of cooperative compensation as a condition to joining or participating in the MLS. MLSs also cannot require that offers of cooperative compensation, if made, be blanket, unconditional, or unilateral. - Brokers Can Publish Offers of Cooperative Compensation for Their Own Listings on Their Own Websites. Although MLSs are prohibited from publishing cooperative compensation offers, the settlement allows brokers and their agents to publish seller-approved cooperative compensation offers for their own listings (but not other brokers’ listings) on their own websites.
- Agents Must Make Commission Disclosures. Agents must disclose in listing agreements, buyer representation agreements, and pre-closing disclosures that broker commissions are not set by law and are fully negotiable. NAR must require REALTOR® Boards and MLSs to include these disclosures in any form agreements they publish.
603-714-4990
patrickdillonrealestate@gmail.com
This chart shows the increase in median sale prices and home appreciation over the last 4 years in Rockingham, Strafford, York and Essex County up the coast. Basically unprecedented in our modern housing history. 
Because of this, "Will home prices start to come down?" is one of the number one questions we're hearing and I think a lot of people assume there will be a correction.
But here's the thing….they don't have to come down. As long as there are more buyers than there are homes to sell, prices are likely to at least remain stable vs. to drop in any meaningful way. Especially in our corner of the US.
Coastal New England is old and a highly desirable place to live. We have great schools, employers, restaurants, town services, close proximity to major cities etc…and on top of this, it's really difficult and expensive to build right now. Due to costs and regulations'. There isn’t a pipeline of single family homes being built at the rate which can satisfy the demand.
Point is, if you are thinking about buying but are waiting for a "Market Correction" and prices to drop you might be putting yourself in a worse position because that's not guaranteed to happen. By the time you enter the market as a buyer home prices could very well be higher and you've missed out on building equity in a home while you’ve waited.
I don't have a crystal ball but I can help you navigate your purchase if you're looking to buy.
Reach out anytime to discuss. 
603-714-4990.
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