Is the new law of commission effective yet???

No

My advice as an expert, practice your business like its already in effect. If it comes at a later date, you will be ahead of every other agent. Be a leader, not a follower. Doing intuitively, rather than what everyone one else says, will set you apart from everyone else. Success is not a numbers game, it's knowing what you are doing. Don't follow the pack.

Hey Gary! The Settlement is currently pending federal court approval but should start in July this year if it is approved. I will attach a link to this message so you can read more about the settlement.

Not yet. It hasn't been approved yet, but IF it does get approved, then it will be July before it goes into effect.

Gary! Great question, as I'm sure it's on MOST agent's and many consumer's minds. The most important thing to note here is that nothing has changed currently and changes that MAY be to come are unknown at this point, because: These proposed settlement offerings are still subject to the courts approval, the proposed rule changes will take effect mid-July 2024. Though there is a TON of misinformation going around on news outlets, social media outlets, and through the general grapevine of gossip and gloom and doomer's, the truth of the matter is that if you're an agent who ACTUALLY provides value, then you'll continue to be relevant, PLAIN AND SIMPLE. Lots of great information can be found at the link below! Feel free to reach out to me anytime! codysellsproperty@gmail.com 346-412-6603

No yet until the middle of July and below is the answer of many questions.>

https://cms.har.com/lawsuits/ ...For all updates on this lawsuit and pending changes regarding Buyer rep forms, etc.

The settlements have not even been accepted at this time. Once these are approved by the courts, the judge will write a brief which will outline the ruling and new regualtions and when they will take effect. Stand by and inform the public nothing has changed as of this writing.

Not until mdi-July.

Not yet, for now expect in mid July when the court finalized it.

No. NARs proposed settlement agreement is still subject to approval by the court, and if approved would be effective mid July 2024. In summary, here are the key terms: - Release of liability: - Compensation offers moved off the MLS: NAR has agreed to put in place a new rule prohibiting offers of compensation on the MLS. Offers of compensation could continue to be an option consumers can pursue off-MLS through negotiation and consultation with real estate professionals. - Written agreements for MLS participants acting for buyers: [HomeSmart already requires this] - NAR continues to deny any wrongdoing: NAR has long maintained and continue to believe that cooperative compensation and NARs current policies are good things that benefit buyers and sellers.Refer agent links on nar.com and har.com for more details. https://cms.har.com/lawsuits/http://links.nar.realtor/e/evib?_t=c5b1fb62997f4706a5deeffd263175b4&_m=1b93b2962d7945a7b8fc972b58d6bd78&_e=FRV9k3o1PmPAtyv1rGrnZLd0E0AlNYu-iHSVVfHxc_0dt5vvawUIFXn2k4h0dslD

No. The DOJ still has to make their ruling.

will go in effect mid july 2024

No still needs judge approval, July if approved.

There is no new law, just a new rule of andvertising compensation in MLS. It has alsways been negotiable.

The new rule you are talking about is not in effect yet. But the rule only changes where Realtors can offer compensation. It does not change, effect, or limit how much a Realtor can charge for commission or how much they can offer to a cooperative Realtor. The rule change just says we cant list that in the MLS. Commissions have always been 100 negotiable and this rule does not change that. The most annoying thing is now agents need confirm outside of the MLS if commission is being offered ti the buyers agents. If not the buyer may not want to see that house.

The answer to this question is to start practicing like it already is. Although we do have until July it is important to be prepared and talk to your broker and see what they have in place with what is to come. Become the expert in the new changes and be able to advise everyone who asks what the new changes mean. Meet this head on and you will be okay. I

Hi Gary, no - it's still subject to court approval and "if" approved it won't take effect until early to mid-July this year. You can find all the details here - https://www.nar.realtor/the-facts