Realtor.com Expands Its Buyer Representation Campaign To Underrepresented Groups

Realtor.com is expanding its ad campaign championing homebuyer representation to focus in on underrepresented and marginalized groups. The campaign, launched in April, seeks to empower buyers’ agents in the wake of the National Association of Realtors (NAR) settlement, which undoes NAR’s typical commission structure and puts buyers in the driver’s seat when it comes to finding, and paying for, a realtor. April’s launch put Realtor.com’s message in print, digital, and social channels. It focused on the amount of work buyers saddle themselves with if they choose to buy a home without an agent, using the tagline: “Here’s 111 things to-do, or do 1 thing. Find a buyer’s agent.” Now, Realtor.com plans to hone in on buyers in historically underserved and…

VA Announces Fix For Home Loan Benefits After NAR Settlement

The Department of Veterans Affairs announced a temporary fix to a lending issue that arose from the National Association of Realtors $418 million settlement. Under the terms of the settlement, sellers are expected to negotiate with real estate professionals, and buyers have to enter into agreements with, and pay for, their own realtors. For some buyers, this may translate into a cheaper overall experience, depending on what is negotiated for as part of the sale. But this poses a unique problem for veterans, as VA loans limit certain fees that a buyer may pay, including real estate commissions. But this week, the VA addressed that problem. It announced that eligible Veterans, active-duty Service members, and surviving spouses who use the…

Real Estate Professionals React To NAR’s $418 Million Settlement

By NICOLE MURRAY People who make their living helping homebuyers and sellers have spent the last two weeks figuring out what the $418 million settlement deal announced by the National Association of Realtors means for them and their clients. If approved by a judge, under the settlement buyers will be expected to enter into written compensation agreements with their real estate agents starting in mid-July. Sellers may pay a buyer’s agent commission as part of the negotiation process. They can also opt to pay just their agent. This represents a departure from the current model, where sellers typically pay for their agent, as well as the buyer’s agent, through cooperative compensation. The Mortgage Note spoke with real estate industry professionals…

NAR Settlement Poses Challenge For VA Buyers

Huge changes to Realtors’ commission structures may disadvantage VA buyers, at least in the short term. A $418 million settlement announced by the National Association of Realtors last week is set to have sweeping implications for the housing industry in general. If approved by a federal judge, it would undo NAR’s commission structure, which is typically between 5.5% and 6% and split between buyer’s and seller’s agents. Under the terms of the settlement, moving forward sellers will be expected to negotiate with real estate professionals, and buyers will have to enter into agreements with, and pay for, their own realtors. For some buyers, this may translate into a cheaper overall experience, depending on what is negotiated for as part of…