What the Proposed National Association of REALTORS® Settlement Means For You

By Michele Allyn
2024 President
Santa Barbara Association of Realtors

As an experienced real estate agent with decades of service in our beloved community, I feel compelled to address recent developments surrounding the proposed National Association of REALTORS® (NAR) lawsuit settlement and its potential impact on both buyers and sellers. With all the media coverage it seems as though the future of the real estate transaction will vastly change. However, I want to reassure you that our commitment to serving your best interests remains unwavering.

The recent settlement brings to light discussions about compensation structures and the transparency of real estate transactions. While these conversations are necessary and reflective of an evolving industry, they may understandably raise questions and concerns among buyers and sellers alike. To be clear, the compensation that is paid to the listing agent in a sales transaction is and always has been negotiated between the seller and the listing agent. Neither NAR, nor anyone else, is a part of that discussion or decision.

For buyers, this settlement offers an opportunity to reevaluate how they engage with real estate agents and understand the dynamics of agent compensation. While it’s essential to recognize these changes, we should remember that this settlement will preserve Americans’ choices when it comes to real estate services. The value and expertise that agents bring to the table remain unchanged. From navigating complex negotiations to identifying the perfect property, our role is to advocate for your best interests and ensure a seamless home buying experience.

In navigating this new landscape, communication and transparency are more important than ever. REALTORS® are committed to fostering open and honest dialogue, ensuring that you are empowered to make informed decisions that align with your unique needs and objectives. Whether you’re buying your first home, selling a cherished property, or investing in real estate, the REALTORS® of the Santa Barbara area are here to provide the support and expertise you deserve.

As we embark on this journey together, I encourage you to reach out to your REALTOR® with any questions or concerns you may have. Our doors are always open, and we are here to offer guidance, reassurance, and a steady hand in an ever-changing world.

Michele Allyn is the owner and manager of Allyn & Associates Real Estate and Lending, a real estate brokerage and mortgage company, serving Santa Barbara, California’s Central Coast, Ventura, Riverside, San Diego and Greater Los Angeles County. Michele has been a member of the Santa Barbara Association of Realtors since 1973, and currently serves as the President of the Board of Directors. Reach Michele at 805-895-5101 or micheleallyn@yahoo.com.