How Does the New NAR Laws Work for Buyers and Sellers!?
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Today we're discussing the new
Today we're discussing the new real estate rules and if they're good or bad for buyers. The Real Estate Consumer Protection Enhancement Act is active in New Jersey as of August 1st, and the rest of the country by the middle of August.
There are 6 new laws that have been signed into effect due to the NAR Settlement, and some of them will be changing the way real estate transactions will operate. New Jersey has been one of the first states to adopt the new laws.
One of the biggest talking points with the nar lawsuit have been real estate commissions and how they are paid. We will be discussing how the media has created some myths, and then we will go through all the rules one by one and how they affect you the consumer.
So let's go over how NJ real estate will be affected by the Real Estate Consumer Protection Enhancement Act, and what you need to know about buying or selling a home in New Jersey.
0:00 Introduction
0:39 Myth 1: 6% Commissions
1:30 Myth 2: Home sellers Don't Pay Buyers Commission
2:42 Myth 3: Home Prices Will Drop
3:29 Rule 1: Continuing Education Changes
4:12 Rule 2: Open House Changes
4:51 Rule 3: Seller's Disclosure Mandatory
6:05 Rule 4: Buyer's Agent Commission Unknown
7:15 Rule 5: Designated Agency Allowed
9:16 Rule 6: Buyers Brokerage Agreement Mandatory
12:54 My Thoughts
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Steven McCutcheon Central NJ Real Estate Agent 186538
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در تاریخ 1403/05/12 منتشر شده
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