The National Association of Realtors (NAR) settled class action lawsuits totaling $418 million in 2024 and promised to change some of its business practices. One of the new practices will be for buyers to sign a “sales agreement” with their agent. These agreements clearly spell out the fees a buyer agent charges. They also stipulate that if an agent is unable to attain their fee from the seller, the buyer would have to pay the fee out of pocket.
It’s critical to understand the new landscape for transacting in real estate and working with real estate agents. To learn more about what buyers should do, watch the video below:
Christopher Diodato founded WELLth Financial Planning in 2020 to help individuals live their best financial lives through expert, conflict-free guidance. He carries a rare combination of credentials — the CFA, CMT, and CFP charters — allowing him to create and implement best-in-class investment and financial planning strategies. A passionate advocate of the FIRE movement, Chris helps clients design life plans that reflect their unique vision of financial success, whether that means early retirement or more time for what matters most.