NAR Settlement – What does it mean for us locally??

The Norhtwest MLS (NWMLS)  is OWNED by its member brokers, not the Realtor Association as many national MLS’s are.

The NWMLS has been proactively pursuing transparency regarding Broker compensation years before the NAR Settlment ever came to fuition.

The NWMLS has chosen to opt out of the NAR Settlement to further enhance transparency around compensation, ensuring our clients are better informed

So, What does this mean for you?  If you are a SELLER, you get to choose the level of compensation you want to offer to a Buyer Broker.  I can help you understand the advantages and disadvantages of whatever your decision may be.

If you are a BUYER,  when you hire a Broker to represent you, there is an open conversation regarding what our fee is, how we get paid and how it affects you.

Much of the news you hear about the NAR Settlement is coming from the national level and does not necessarily correlate to how we are doing business here in Washington.  Because in other parts of the country, they are just beginning to implement the journey of Broker compensation Transparency.  Here in our state, we implemented well over a year ago.  We at Windermere Real Estate believe that the NAR Settlement has helped the entire Real Estate industry move in a positive direction.  We support our local NWMLS and their decision to opt out in an effort to continue to provide even more clarity and options for buyers, sellers and brokers.