Catherine Sawatsky | October 20, 2024
NAR Settlement
As of August 2024, the NAR settlement has reshaped the real estate landscape across the U.S., including Fresno and Clovis, California. The settlement’s goal of increasing transparency and fair competition has already begun influencing buyers, sellers, and agents alike. But what does this mean for the local real estate market, especially regarding inventory? For buyers and sellers in Fresno and Clovis, understanding these changes is key to navigating the complexities of the current market.
One of the immediate effects of the NAR settlement is the transparency it introduces to commission structures and real estate transactions. While this primarily focuses on how commissions are disclosed and negotiated, it also indirectly impacts inventory levels.
Sellers in Fresno and Clovis will need to adjust to new expectations in this post-settlement environment. The increased transparency means that sellers can now better understand where their money is going, leading to more informed decisions about pricing, agent fees, and listing timing.
For buyers, the NAR settlement creates an environment where increased competition between agents can lead to better deals. With commission transparency at the forefront, buyers can now have more insight into where their money is going.
The NAR settlement marks a significant shift in the real estate market, particularly for buyers and sellers in Fresno and Clovis. Increased transparency and changes in commission structures have already begun influencing inventory and negotiation dynamics. As these changes continue to unfold, both buyers and sellers must stay informed and work closely with real estate professionals who understand the evolving market. By navigating this new landscape strategically, buyers and sellers can continue to succeed in the Fresno and Clovis real estate markets.
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