Understanding the New NAR Commission Rules and How Zoldly Can Help You Navigate the Changes
- Miguel Dominguez, RCS-D
- Aug 10, 2024
- 3 min read
In August 2024, the National Association of Realtors (NAR) passed new commission rules that are reshaping the real estate landscape. As someone who’s been in the industry for over 28 years, I’ve witnessed countless changes, and this is one of the most significant shifts in recent memory.
The new rules aim to bring more transparency to commission structures, reduce costs, and enhance the overall experience for both buyers and sellers. As a result, it’s more important than ever to understand these changes—and how you can leverage them for a better real estate experience. Here’s a breakdown of what’s happening and how Zoldly can help you make the most of it.
Key Changes Under the New NAR Commission Rule
No Commission Offers on Multiple Listing Services (MLS)Traditionally, MLS listings included commission details for the buyer’s agent. Now, that’s no longer the case. Buyers and agents are encouraged to negotiate compensation directly, which allows for more flexibility and transparency but also requires better communication between parties.
Written Buyer Agreements Before Property ToursBuyer’s agents now need to have a written agreement with their clients before showing properties. This ensures both buyers and agents have a clear understanding of the terms and what’s expected in terms of compensation.
What Does This Mean for Buyers and Sellers?
For Buyers:These changes allow you more control over the commission you pay your agent. Now, you can directly negotiate terms with agents that work best for your needs. This transparency helps ensure you’re getting value for the service you’re paying for.
For Agents:Agents are now required to secure a written agreement with buyers upfront, which means there’s no ambiguity about compensation. This pushes agents to be more transparent and proactive with clients, which can lead to stronger relationships and more streamlined transactions.
How Zoldly Can Help You Navigate These Changes
At Zoldly, our goal has always been to make real estate simpler, more efficient, and transparent. With the new NAR commission rules, we’re positioned to help buyers and sellers navigate these changes with ease. Here’s how:
Transparent and Flexible Commission StructuresWhile Zoldly doesn’t offer flat-fee services, we provide flexible, transparent commission options that align with the evolving real estate market. Our model allows both buyers and sellers to understand what they’re paying for and how their transactions are structured, eliminating the hidden fees and confusion typically associated with traditional commission models.
A Fully Online Real Estate ExperienceZoldly’s platform was built to streamline the real estate process. We offer a modern, fully online approach to buying and selling homes, which aligns perfectly with the industry’s shift to virtual and digital transactions. With real-time updates, full access to transaction information, and 24/7 support, you can stay informed and confident throughout the entire process.
Real-Time, Personalized SupportIn a time when real estate transactions are more transparent and complex than ever, you need personalized support you can count on. Zoldly’s team is always available to assist with any questions or concerns, helping you make informed decisions without the hassle. Whether you’re a buyer or seller, you’ll have access to our expert support whenever you need it.
Simplified Processes for Buyers and SellersWe’ve worked hard to simplify the buying and selling experience, which means you don’t have to worry about navigating complicated commission structures or hidden fees. Zoldly’s platform ensures that everything is clear, straightforward, and accessible from the moment you sign on.
Why Zoldly is the Smarter Choice
As the creator of Zoldly, I’m passionate about making real estate smarter and more accessible. These new NAR rules are pushing the industry toward a more transparent future, and Zoldly is at the forefront of that change. We’ve created a platform that’s not just prepared for these shifts but has been built to offer a better, more streamlined experience for everyone involved.
If you're ready to embrace the future of real estate, Zoldly is here to support you every step of the way—ensuring your experience is efficient, cost-effective, and transparent.
Miguel Dominguez
Principal Broker | Creator of Zoldly | US Navy Veteran | Your Listing Agent
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