Categories: Blog | News
Settlement Changes
What is the settlement with the National Association of Realtors?
The settlement with the National Association of Realtors (NAR) involves significant changes, including removing compensation details from the Multiple Listing Service (MLS). This means that a buyer and agent's compensation must now be negotiated directly between those parties. While compensation offers will no longer be listed on the MLS, you can still discuss and agree upon these terms with your real estate professional.
When does this go into effect?
These changes will take effect on August 17, 2024.
Impact on Buyers
How does this impact you when purchasing a new home with Agile Homes?
Agile Homes will no longer negotiate agent compensation to comply with the NAR settlement. Instead, compensation for your agent will be a decision between you and the agent you choose to represent you. Previously, we included agent compensation in our home prices. Moving forward, we will reduce the prices of all our homes, and any compensation you agree upon with your agent will be added separately to the contract.
Why are you making this change?
We believe in transparency and fairness in everything we do. We understand that the new ruling changes how commissions are handled, and we are committed to complying with the latest rules and laws regarding compensation. While we have reduced our home prices considering this ruling, we remain committed to compensating real estate agents for their invaluable service. We are still very happy to pay commissions added to the sales price, ensuring that agents are fairly rewarded for their efforts.
Working with Agents
Do you still work with agents?
Absolutely! We are happy to work with agents. A professional real estate agent can be a valuable resource for many buyers. We have lowered the prices of all our buildable plans and available homes, and we are happy to add the agreed-upon compensation for your agent to the contract.
Do I need to have an agent?
The decision to have an agent represent you when purchasing a new home is entirely up to you. Whether or not you choose to work with an agent, you will benefit from the expertise and professionalism of the Agile Homes team, our proven processes, and our state-of-the-art design center. To demonstrate our confidence in our homes, we offer a $300 credit towards an independent third-party home inspection of your choice.
Do I get a better deal if I don’t have an agent?
We follow a "No Dicker Sticker" policy, meaning the price you see is the best price we can offer. In response to the settlement, we have reduced our sales prices across the board. The price listed on our website is the final price. You can choose to add any compensation you agree upon with your agent to the home's sales price, or you can compensate your agent outside of the sales contract. Please note that the listed prices do not include the cost of the lot or city hookup fees, which are additional.
Recent Buyers
I recently purchased a house from you. Am I allowed to get the reduced price?
The Agile Homes sales team will be in touch with eligible buyers.
By Agile Homes