How Will the NAR Settlement Impact Real Estate Listing Agents? How Can REBLAW Help?

The recent REALTOR commission settlement has introduced significant changes to the

way sellers and listing agents navigate the home-selling process in Southern Nevada.

These changes have removed a key element from the traditional listing agreement—namely, the provision that discussed what, if any, commission would be offered to a buyer’s agent. This shift in policy has far-reaching implications for how homes are sold and how listing agents must now approach negotiations with potential buyers.

One of the most immediate impacts of this settlement is that sellers and their listing agents are no longer able to specify a commission for buyer’s agents within the listing agreement. This means that, unlike in the past, sellers are not obligated to offer any commission to the buyer’s agent upfront. However, it is important to understand that this doesn’t mean buyer’s agents won’t be compensated—it simply changes when and how those conversations occur.

With the removal of the buyer's agent commission from the listing agreement, buyers will likely begin negotiating for either a commission or a closing cost concession as part of their initial offer to purchase a property. This adds a new layer of complexity to negotiations, as sellers must now decide whether to offer these concessions and, if so, how much to offer. Importantly, even if a seller decides to provide a commission or a closing cost concession, these amounts cannot be listed in the local MLS. While some MLS systems nationwide may allow for the display of closing cost concessions, the Southern Nevada MLS does not permit this, further complicating the process.

For listing agents, this creates potential liability and challenges related to advising their clients on the pros and cons of offering commissions or closing cost concessions. It’s critical that listing agents fully understand the implications of these decisions, as they can significantly impact the final sale price and the overall success of the transaction.

At REBLAW, we recognize the complexities that listing agents and brokers now face due to these changes. Our experienced real estate attorneys are here to help you navigate this new landscape. We can provide guidance on how to effectively negotiate these issues, minimize potential liabilities, and ensure that your clients are making informed decisions that align with their best interests.

If you’re a listing agent or broker in Southern Nevada and are concerned about how the NAR settlement will impact your business, contact REBLAW today. We’re here to help you adapt to these changes, protect your interests, and continue providing exceptional service to your clients in this evolving real estate market. Let us be your partner in navigating these challenges so you can focus on what you do best—selling homes.