If you are considering purchasing a home, you may be wondering how a class action lawsuit involving real estate agents and commissions will affect you. On April 23, a judge granted preliminary approval to a settlement proposed in March by the National Association of Realtors, meaning the new rules are expected to go into effect in July or August.
None of this means you need to stop searching for a home. Here's what you need to know when working with a buyer's agent this season.
k9am(92E 2C6 E96 ?6H CF=6Dnk^9am
kAmx? E96 =2HDF:E qFC?6EE G]}2E:@?2= pDD@4:2E:@? @7 #62=E@CD 6E 2=][ 2 8C@FA @7 9@>6 D6==6CD 2C8F65 E92E }p# 2?5 D@>6 >2;@C C62= 6DE2E6 3C@<6C286D 925 6?7@C465 CF=6D E92E 67764E:G6=J =:>:E65 E96 D6==6CD’ 23:=:EJ E@ ?68@E:2E6 @? 4@>>:DD:@?D] $6==6CD 92G6 EC25:E:@?2==J k2 9C67lQ9EEADi^^HHH]?6C5H2==6E]4@>^2CE:4=6^>@CE8286D^C62=\6DE2E6\286?E\ 4@>>:DD:@?nFE>042>A2:8?l4E0AC@5U2>AjFE>04@?E6?El`dd_g_dU2>AjFE>0>65:F>lCDDU2>AjFE>0D@FC46lDJ?5: 42E:@?U2>AjFE>0E6C>l3=@I5:8:E2=Q E2C86ElQ0D6=7Q C6=lQ?@7@==@H ?@@A6?6CQmD6E E96 4@>>:DD:@? Dk^2m 7@C E96 286?ED @? 3@E9 D:56D @7 E96 562=]k^Am
kAmpD A2CE @7 E96 D6EE=6>6?E[ }p# AC@>:D65 E@ 2=E6C D@>6 3FD:?6DD AC24E:46D] %96 E9C66 >2:? 492?86D 2C6ik^Am
kF=mk=:mqFJ6CD[ ?@E D6==6CD[ H:== 564:56 9@H >F49 E96 3FJ6C’D 286?E H:== 36 A2:5 7@C 2 4@>A=6E65 D2=6]k^=:mk=:mr@>>:DD:@?D 7@C 3FJ6C'D 286?ED H:== ?@ =@?86C 36 =:DE65 @? E96 k2 9C67lQ9EEADi^^HHH]? 6C5H2==6E]4@>^2CE:4=6^>@CE8286D^H92E\:D\>=D\:?\C62=\6DE2E6nFE>042>A2:8? l4E0AC@5U2>AjFE>04@ ?E6?El`dd_g_dU2>AjFE>0>65:F>lCDDU2>AjFE>0D@FC46lDJ?5:42E:@?U2>AjFE>0E6C>l3=@I5:8: E2=Q E2C86ElQ0D6=7Q C6= lQ?@7@==@H ?@@A6?6CQm>F=E:A=6 =:DE:?8 D6CG:46k^2m[ 2 52E232D6 @7 AC@A6CE:6D 7@C D2=6 😕 2 86@8C2A9:4 2C62] !C6G:@FD=J[ |{$ 7:6=5D G:D:3=6 @?=J E@ 286?ED[ 3FE ?@E 4@?DF>6CD[ DA64:7:65 H92E A6C46?E286 4@>>:DD:@? D6==6CD H6C6 @776C:?8 7@C 6249 AC@A6CEJ] k^=:mk=:m*@FC 286?EH:== 36 C6BF:C65 E@ Q6?E6C :?E@ 2 HC:EE6? 28C66>6?EQ H:E9 J@F 367@C6 8 :G:?8 J@F 2 E@FC @7 2 9@>6](9:=6 DF49 4@?EC24ED — @7E6? 42 ==65 3FJ6C'D 286?4J @C 3FJ6C\3C@<6C 28C66>6?ED — 2C6 ?@E ?6H[ E96C6’D G2C:2E:@? 😕 9@H E96J’C6 :>A=6>6?E65] $@>6 DE2E6D C6BF:C6 E96> 2=C625J]$@>6 286?ED D:8? FA 3FJ6CD 367@C6 D9@H:?8 AC@A6CE:6D[ H9:=6 @E96CD >2J 6IA=2:? E96 2CC2?86>6?E 3FE ?@E 2D< E96 3FJ6C E@ D:8? 2?JE9:?8 F?E:= E96C6VD 2 9@FD6 E@ >2<6 2? @776C @?] k^=:mk^F=m
kAm%96D6 4@?EC24ED H:== =:<6=J 36 >2?52E@CJ 3J >:5\yF=J[ 2?5 J@F 42? 6IA64E J@FC 286?E E@ 2D< J@F E@ D:8? @?6 D@>6E:>6 36EH66? ?@H 2?5 E96?]k^Am
k9amw@H >F49 H:== 2 3FJ6C'D 286?E 4@DE >6nk^9am
kAm*@FC 4@?EC24E H:== DA64:7J 9@H >F49 J@FC 286?EH:== 36 A2:5]u@C ?@H[ 3FJ6CD 2?5 D6==6CD 2C6 =:<6=J E@ EC2G6= E96 A2E9 @7 =62DE C6D:DE2?46 2?5 A2J E96 2C62VD 4FDE@>2CJ 4@>>:DD:@?] %92EVD a]dTE@ bTE@ 6249 286?E 😕 >@DE A=246D]k^Am
kAmqFE J@F AC@323=JH@?VE 92G6 E@ A2J J@FC 286?E @FE @7 A@4<6E]x? >@DE 42D6D[ J@F D9@F=5 36 23=6 E@ 255 J@FC 286?EVD 4@>A6?D2E:@? E@ J@FC @776C]k^Am
kAmu@C 6I2>A=6[ =6EVD D2J J@F 2C6 A2J:?8 J@FC 286?E 2 a]dT 4@>>:DD:@?[ 2?5 J@F >2<6 2? @776C @? 2 Sc__[___ 9@FD6] pa]dT 4@>>:DD:@? @? Sc__[___ 😀 S`_[___] $@ J@F 4@F=5 @776C E96 D6==6C Sc`_[___ @? E96 4@?5:E:@? E92E E96 D6==6C A2JD J@FC 286?E S`_[___ 2E 4=@D:?8]k^Am
kAmu2??:6 |26[ uC655:6 |24 2?5 E96 k2 9C67lQ9EEADi^^HHH]?6C5H2==6E]4@>^2CE:4=6^>@CE8286D^792\=@2?nFE>042>A2:8?l4E0AC@5U2>AjFE>04@?E6?El`dd_g_dU2>AjFE >0>65:F>lCDDU2>AjFE>0D@FC46lDJ?5:42E:@?U2>AjFE>0E6C>l3=@I5:8:E2=Q E2C86ElQ0D6=7Q C6=lQ?@7@==@ H ?@@A6?6CQmu656C2= w@FD:?8 p5>:?:DEC2E:@?k^2m 92G6 :?5:42E65 E92E E96JVC6 ~z H:E9 @776CD E92E :?4=F56 4@> A6?D2E:@? 7@C E96 3FJ6CVD 286?E]k^Am
kAm%92E =62G6D @FE 'p =@2?D[ H9:49 2C6 >@CE8286D 8F2C2?E665 3J E96 s6A2CE>6?E @7 ‘6E6C2?D p772:CD] qFJ6CD FD:?8 'p =@2?D 2C6?VE A6C>:EE65 E@ A2J C62= 6DE2E6 286?ED 5:C64E=J]k^Am
kAmQ'6E6C2?D 2C6 6?4@FC2865 E@ ?68@E:2E6 H:E9 E96 D6==6C[ E9C@F89 E96 AFC492D6 @776C[ 7@C E96 D6==6C E@ A2J 7@C E96 3FJ6C’D C62= 6DE2E6 286?E @C 3C@<6C[Q ‘p AC6DD D64C6E2CJ %6CC6?46 w2J6D D2:5 G:2 6>2:=]k^Am
kAm%92E D@F?5D =:<6 E96 'p :D ~z H:E9 @776CD E92E :?4=F56 E96 3FJ6CVD 286?EVD 4@>>:DD:@?[ 3FE E92E >:89E ?@E 36 E96 6?5 @7 E96 DE@CJ] %96 'p Q:D 24E:G6=J 6?82865 H:E9 :?5FDECJ A2CE?6CD E@ 6DE23=:D9 7=6I:3=6 D@=FE:@?D E92E H:== 6?DFC6 G6E6C2?D >2:?E2:? 6BF2= 7@@E:?8 😕 E96 9@>63FJ:?8 AC@46DD[Q w2J6D D2:5]k^Am
k9amr2? x D2G6 >@?6J 3J D<:AA:?8 E96 3FJ6C'D 286?Enk^9am
kAm%649?:42==J[ J@F 42? 3FJ 2 9@FD6 H:E9@FE 2? 286?E C6AC6D6?E:?8 J@F] qFE :E'D ?@E ?646DD2C:=J 2 >@?6J\D2G:?8 924[ A2CE:4F=2C=J 7@C 7:CDE\E:>6 9@>6 3FJ6CD]k^Am
kAmz66A 😕 >:?5 E92E J@FV== 32C82:? H:E9 2 =:DE:?8 286?E H9@ H@C[ J@F =:<6=J H@F=5 36?67:E 7C@> E96 6IA6C:6?46 2?5 DFAA@CE @7 2? 286?E H9@ C6AC6D6?ED J@FC :?E6C6DED] (@C<:?8 H:E9 2 k2 9C67lQ9EEADi^^HHH]?6C5H2==6E]4@>^2CE:4=6^>@CE8286D^3FJ6CD\C62=\6DE2E6\286?EnFE>042> A2:8?l4E0AC@5U2>AjFE>04@?E6?El`dd_g_dU2>AjFE>0>65:F >lCDDU2>AjFE>0D@FC46lDJ?5:42E:@?U2>AjFE>0E6C>l3=@ I5:8:E2=Q E2C86ElQ0D6=7Q C6=lQ?@7@==@H ?@@A6? 6CQm3FJ6CVD 286?Ek^2m 42? D2G6 E:>6 2?5 >@?6J]k^Am
kAmr=2F5:2 r@3C6:C@[ AC:?4:A2= @7 r@3C6:C@ {2H 😕 r@C2= v23=6D[ u=@C:52[ 25G:D6Di s@?VE 3FJ 2 9@FD6 H:E9@FE 36:?8 C6AC6D6?E65 3J 2 C62= 6DE2E6 286?E @C 2 =2HJ6C] Qx >2<6 D@ >F49 >@?6J 86EE:?8 A6@A=6 @FE @7 4C2AAJ D:EF2E:@?D @? 4@?EC24ED[Q D96 D2JD]k^Am
k9amw:C:?8 2 3FJ6CVD 286?Ek^9am
kAm(92E :7 J@FD:8?H:E9 2 3FJ6CVD 286?E[ @?=J E@ 7:?5 E92E J@F 5@?VE 86E 2=@?8n %96 8@@5 ?6HD 😀 E92E E96C6VD =66H2J 😕 E96 C6BF:C6>6?E 7@C 2 HC:EE6? 28C66>6?E]k^Am
kAms2?:6==6 #@H?:?[ 2 C62= 6DE2E6 286?E H:E9 z6==6C (:==:2>D #62=EJ 😕 r@??64E:4FE[ D2JD D96 8:G6D AC@DA64E:G6 4=:6?ED @AE:@?D] Q~AE:@? @?6 😀 H6 4@F=5 ;FDE D:8? E96 28C66>6?E ;FDE 7@CE@52J[Q D96 D2JD] x7 E96C6VD 2 >:D>2E49[ E96 4@?EC24E 6IA:C6D 2E >:5?:89E Q2?5 H6VC6 7C66 E@ >@G6 @?]Qk^Am
kAmr9F4< '2?56C $E6=E[ 2 C62= 6DE2E6 286?E :? '2=A2C2:D@[ x?5:2?2[ 25G:D65 DE2CE:?8 @FE H:E9 2 b_\52J 4@?EC24E[ H9:49 42? 36 6IE6?565] Qw@>6 3FJ6CD D9@F=5 92G6 2? 62DJ C@FE6 E@ E6C>:?2E6 E96 28C66>6?E H9:=6 DE:== 😕 E96 =@@<:?8\7@C\E96\9@>6 DE286[Q 96 D2:5 G:2 6>2:=]k^Am
kAm*@F D9@F=5 EC62E E96 :?:E:2= 5:D4FDD:@? H:E9 2 AC@DA64E:G6 3FJ6CVD 286?E 2D 2 ;@3 :?E6CG:6H]k^ Am
kAmp D62D@?65 286?E 😀 =:<6=JE@ 56=:G6C 2 AC6A2C65 AC6D6?E2E:@?]#@H?:? D2JD 96C A:E49 E@ 3FJ6CD =2DED 23@FE 2 9@FC]Qx E2<6 E96> E9C@F89 6G6CJ D:?8=6 DE6A @7 E96 EC2?D24E:@?[ H92EVD E@ 36 6IA64E65 2?5 H92E E96 ?6IE DE6AD 2C6 — 367@C6 H6 6G6? DE6A 7@@E 😕 E96 9@FD6[Q D96 D2JD]k^Am
kAm':4E@C:2 #2J w6?56CD@?[ @H?6C 2?5 3C@<6C @7 w@>6qFJ6C qC@<6C286 😕 q6E96D52[ |2CJ=2?5[ D2:5 :EVD :>A@CE2?E E@ 2D< :7 E96 286?E H@C<D 7@C D6==6CD[ E@@] xD :EA@DD:3=6 E92E E96 286?EH:== H2?EE@ C6AC6D6?E 3@E9 J@F 2?5 @?6 @7 E96:C D6==6C 4=:6? EDn (92E :7 J@FC 286?E 2?5 E96 D6==6CVD 286?EH@C< 7@C E96 D2>6 3C@<6C286n q@E9 D:EF2E:@?D 4@F= 5 6?E2:= 4@?7=:4ED @7 :?E6C6DE]k^Am
kAmw6?56CD@? :D2? 6I4=FD:G6 3FJ6CVD 286?E[ H9:49 >62?D D96 2?5 96C 3C@<6C286 C6AC6D6?E @?=J 3FJ6CD] $96 D2:5 E9:D 8F2C2?E66D Q`__T =@J2=EJQ 3642FD6 D96 2?5 96C 4@>A2?J 5@?VE 92G6 DA=:E 2==68:2?46D]k^ morning
k9ams@6D :E >2EE6C H96E96C E96 286?E 😀 2 #62=E@Cnk^9am
kAm*@F 42? 49@@D6 E96 36DE k2 9C67lQ9EEADi^^HHH]?6C5H2==6E]4@>^2CE:4=6^>@CE8286D^H92E\5@6D\2\C62=\6DE2E6 \286?E\5 @nFE>042>A2:8?l4E0AC@5U2>AjFE>04@?E6?El`dd_g_dU2>AjFE>0>65:F>lCDDU2>AjFE>0D@FC46lDJ?5:42E: @?U2>AjFE> 0E6C>l3=@I5:8:E2=Q E2C86ElQ0D6=7Q C6=lQ?@7@==@H ?@@A6?6CQmC62= 6DE2E6 286?Ek^2m 7@CJ@F[ C682C5=6DD @7 H9:49 AC@76DD:@?2= @C82?:K2E:@?D E96J’C6 277:=:2E65 H:E9]k^Am
kAm|@DE[ 3FE ?@E 2==[ C62= 6DE2E6 286?ED 2C6 56D:8?2E65 #62=E@CD[ H9:49 >62?D E96J 36=@?8 E@ E96 }2E:@?2= pDD@4:2E:@? @7 #62=E@CD[ E96 =2C86DE C62= 6DE2E6 EC256 2DD@4:2E:@?[ 2?5 2C6 6IA64E65 E@ 23:56 3J }p#VD DE2?52C5D 2?5 4@56 @7 6E9:4D] tG6? ?@?\#62=E@C 286?ED H:== 36 27764E65 3J E96 D6EE=6>6?E[ 3642FD6 E96 28C66>6?E D6ED CF=6D 7@C 2?J 286?E H:E9 2446DD E@ E96 |{$[ H96E96C @C ?@E E96J 36=@?8 E@ }p#]k^Am
k9amwFCCJ FA[ @C H2:E[ @C H92Enk^9am
kAms@?VE =6E E96 AC@A@D65 CF=6 492?86D 5:4E2E6 E96 E:>:?8 @7 J@FC 9@>6 AFC492D6] qFJ6CD H9@ 2C6 C625J D9@F=5 >@G6 29625 H:E9 k2 9C67lQ9EEADi^^HHH]?6C5H2==6E]4@>^2CE:4=6^>@CE8286D^9@>6\3FJ: ?8\4964<=:DE\DE6AD\E@\3FJ:?8\9@FD6nFE>042>A2:8?l4E0AC@5U2>AjFE>04@?E6?El`dd_g_dU2>AjFE>0>65: F>lCDDU2>AjFE>0D@FC46lDJ?5:42E:@?U2>AjFE>0E6C>l3 =@I5:8:E2=Q E2C86ElQ0D6=7Q C6=lQ?@7@==@H ?@@A6 ?6CQmE96 DE6AD E@H2C5 3FJ:?8 2 9@>6k^2m]k^Am
kAmQ%96 D6EE=6>6?E :D?VE ?646DD2C:=J H92E D9@F=5 36 5C:G:?8 2 9@>6 3FJ6CVD 564:D:@?[Q D2JD #J2? |4{2F89=:?[ rt~ @7 E96 }@CE96C? ‘:C8:?:2 pDD@4:2E:@? @7 #62=E@CD] QxEVD C62==J E96:C =:76 4:C4F>DE2?46D E92E D9@F=5 36 5C:G:?8 E96:C 564:D:@?]Qk^Am
kAm|4{2F89=:?VD 25G:46 C67=64ED E96 4@?D6?DFD 2>@?8 C62= 6DE2E6 286?EDi %2<6 42C6 @7 J@FC ?665D @? J@FC@H? E:>6E23=6]p7E6C 2==[ ?@ @?6 <?@HD :7 2 =2DE\>:?FE6 9:E49 H:== 56=2J :>A=6>6?E2E:@? @7 E96 ?6H CF=6D] QxEVD 3FD:?6DD 2D FDF2= F?E:= :EVD ?@E[Q #@H?:? D2JD]k^Am
k5:G 4=2DDlQ?H\>@C6\7C@>\?6C5H2==6EQ 52E2\?H\4@>A@?6?E\EJA6\?2>6lQ|@C6 uC@> } 6C5(2==6EQ 52E2\?H\4@>A@?6?E\EJA6\D=F8lQ?H0>@C607C@>0?6C5H2==6EQmkAmkDEC@?8m|@C6 uC@> }6C5 (2==6Ek^DEC@?8mk^AmkF=mk=:mk2 9C67lQ9EEADi^^HHH]?6C5H2==6E]4@>^2CE:4=6^>@CE8286D^3FJ6CD\C62=\6DE2E6\286 ?EnFE>042>A2:8?l4E0AC@5U2>AjFE>0D@FC46lDJ?5:42E:@?U2>AjFE>0>65:F>lCDDU2>AjFE>0E6C>l3=@I5:8:E2= U2>AjFE>04@?E6?El`dd_g_dQ E:E=6lQw@H 2 qFJ6CUR_bhjD p86?E r2? *@FC w@>6 $62C49Q E2C86ElQ0D6=7Q 4=2DDlQ?H\=:? A@?6?E\EJA6\?2>6lQ{:?
A@?6?E\EJA6\D=F8lQ?H0=:?<\:>AC6DD: @?lQ`Qmw@H 2 qFJ6CVD p86?E r2? w6=A *@FC w@>6 $62C49k^2mk^=:mk=:mk2 9C67lQ9EEADi^^HHH]?6C5H2==6E]4@ >^ 2CE:4=6^>@CE8286D^AC@8C2>D\96=A\7:CDE\E:>6\9@>63FJ6CDnFE>042>A2:8?l4E0AC@5U2>AjFE>0D@ FC46lDJ? 5:42E:@?U2>AjFE>0>65:F>lCDDU2>AjFE>0E6C>l3=@I5:8:E2=U2>AjFE>04@?E6?El`dd_g_dQ E:E=6lQ !C @8C2>DE@ w6=A u:CDE\%:>6 w@>6 qFJ6CDQ E2C86ElQ0D6=7Q 4=2DDlQ?H\=:?
A@?6?E\EJA6\?2>6lQ{:?
A@?6?E\EJA6\D=F8lQ?H0 =:?<\:>AC6DD:@?lQ`Qm!C@8C2>DE@ w6=A u: CDE\%:>6 w@>6 qFJ6CDk^2mk^=:mk=:mk2 9C67lQ9EEADi^^HHH]?6C5H2==6E]4@>^>@CE8286D^9@H\>F49\9@FD6\ 42?​​\:\277@C5nFE>042>A2:8?l4E0AC@5U2>AjFE>0D@FC46lDJ?5:42E: @?U2>AjFE>0>65:F>lCDDU2>AjFE>0E6C>l3=@ I5:8:E2=U2>AjFE>04@?E6?El`dd_g_dQ E:E=6lQw@H |F49 w@ FD6 r2? x p77@C5nQ E2C86ElQ0D6=7Q 4=2DDlQ?H\=:?
A@?6?E\ EJA6\?2>6lQ{:?
A@?6?E\EJA6\D=F8lQ?H0=:?<\:>AC6DD:@?lQ`Qmw@H |F49 w@FD6 r2? x p77@C5nk^2mk^=:mk^F=mk^5:Gm
k5:G 4=2DDlQ?H\2FE9@C\3@I\HAQ 52E2\?H\4@>A@?6?E\EJA6\?2>6lQpFE9@C q@I \ (!Q 52E2\ ?H\4@>A@?6?E\EJA6\D=F8lQ?H02FE9@C03@I0HAQmk5:G 4=2DDlQ?H\2FE9@C\3@I\HA\\:??6CQmk2D:56 : E6>AC@AlQ2FE9@CQ :E6>EJA6lQ9EEAi^^D496>2]@C8^!6CD@?Q 4=2DDlQ?H\2FE9@C\3@IQ 52E2\?H\4@>A@?6 ?E\EJA6\?2>6lQpFE9@C q@IQ 52E2\?H\4@>A@?6?E\EJA6\D=F8lQ?H02FE9@C03@IQmkAmw@=56? {6H:D HC: E6D 7@C }6C5(2==6E]t>2:=i k2 9C67lQ>2:=E@i9=6H:Do?6C5H2==6E]4@>Qm9=6H:Do?6C5H2==6E ]4@>k^2m]%H:EE6Ci ow@=56?{]k^Amk^2D:56mk^5:Gmk^5:Gm
kA 4=2DDlQ?H\@C:8:?2==J\A@DE65\=:?<:?8 (:E9) 2 w@>6 qFJ6C'D p86?E %9:D $AC:?8 @C:8:?2==J 2AA62C65 @?