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Podcast: The Tom Toole Sales Group Podcast
Episode: Major Changes to Real Estate Commission Rules: What You Need to Know | Tom’s Take #388
Description: In early 2024, the National Association of Realtors reached a significant settlement impacting real estate commission practices. These changes are now being implemented, and it's crucial for both buyers and sellers to understand how they affect you.
Key Updates:
1. No More MLS Commission Offers: Offers of compensation for agents working with buyers will no longer be listed on the MLS. Sellers will still have the option to offer compensation, but it won't be visible on the MLS.
2. Pre-Tour Agreements Required: Home buyers must now sign an agreement with their agent before touring homes. This agreement can be exclusive, property-specific, or a tr...