Real estate professionals speak up to clarify commission misconceptions

SAVANNAH, Ga. — Real estate professionals at the national, state and local levels are speaking out to clarify misconceptions in the wake of a high-profile proposed settlement agreement within the National Association of REALTORS® (NAR).  

“There’s been a lot of misconceptions circulating in regard to this settlement, with the main one being that NAR sets commissions – which isn’t true,” said Sharon Miller, Savannah Area REALTORS® (SAR) 2024 President. “There has never been a fixed fee. Commissions have always been negotiable, and this will not change.” 

NAR has agreed to enact a new rule that would require MLS users working with buyers to enter into written agreements with their buyers. This rule is expected to go into effect in mid-July 2024, according to NAR. 

“Buyer brokerage agreements have always been encouraged, in Georgia the Brokerage Relationship in the Real Estate Transaction Act has always encouraged Georgia agents to use the Exclusive Buyer Brokerage Agreement to provide complete transparency,” said Miller. “So, the new rule is old news to our agents! Georgia contracts have always been forthcoming and transparent in all transactions, as they help consumers understand what services will be provided and for how much.” 

Savannah Area REALTORS® (SAR) is the trade association for real estate licensees in Chatham, Bryan and Effingham counties, representing approximately 2,400 members. SAR is the voice for real estate in the Coastal Empire and works to provide education, promote the highest professional and ethical standards and address the changing needs of members while protecting private property rights and being active in the community. For more information, visit https://savannaharearealtors.com.   

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