WA’s New Real Estate Laws

In 2024, the real estate industry underwent significant national changes affecting buyer broker compensation and agreements:

National Changes

Decoupling of Commissions: The National Association of Realtors (NAR) settlement mandated that listing brokers' compensation is no longer linked to offers made to buyer brokers. This change allows for more transparent and individualized negotiations regarding commissions between buyer brokers and their clients.

Mandatory Written Agreements: Buyer brokers must establish written agency agreements with their clients before providing services. This ensures clarity and mutual understanding of the terms and compensation involved.

Today we will discuss how these changes have influenced the NWMLS and real estate market here in Seattle-Bellevue.