The Continued Importance of REALTORS®: Navigating Post-NAR Settlement Realties

By Michele Allyn
2024 President
Santa Barbara Association of Realtors

With the news of the recent announcement of a proposed settlement between the National Association of REALTORS® (NAR) and the plaintiffs in the commission lawsuit still fresh in our minds, I think it is important for the public to understand that using a REALTOR® will be as important as it ever was, if not more so. There can be little argument that the proposed settlement by NAR will impact the real estate landscape. Yet, amidst the proposed changes, one constant remains – the enduring value of working with a REALTOR®. Let’s delve into why their role remains pivotal even in this evolving environment.

1. Upholding Professional Guidance:

• The NAR settlement redefines compensation structures within the Multiple Listing Service (MLS), but it doesn’t diminish the need for expert advice. REALTORS® bring decades of experience, market insights, and negotiation finesse to the table.
• Whether you’re a buyer or seller, having a seasoned professional by your side ensures informed decisions and smoother transactions.

2. Navigating Complexity:

• Real estate transactions involve intricate legalities, paperwork, and nuances. REALTORS® are well-versed in these complexities.
• From contract intricacies to disclosure requirements, their guidance helps you navigate the maze with confidence.

3. Market Intelligence:

• While the settlement alters compensation dynamics, it doesn’t replace the value of market intelligence. REALTORS® track local trends, property values, and neighborhood dynamics.
• Their insights empower you to make informed choices, whether pricing your home competitively or identifying investment opportunities.

4. Negotiation Mastery:

• Negotiation isn’t just about numbers; it’s an art. REALTORS® excel in bridging gaps, advocating for your interests, and securing favorable terms.
• In a post-settlement era, their negotiation skills remain indispensable.

5. Code of Ethics:

• REALTORS® adhere to a stringent Code of Ethics. It’s not just legalese; it’s a commitment to honesty, transparency, and client welfare.
• When you work with a REALTOR, you benefit from their unwavering ethical compass.

6. Personalized Service:

• Real estate isn’t a one-size-fits-all endeavor. REALTORS® tailor their approach to your unique needs.
• Whether you’re a first-time buyer, downsizing, or relocating, their personalized service ensures a customized experience.

7. Advocacy and Representation:

• The settlement may alter compensation structures, but it doesn’t diminish the need for strong representation.
• REALTORS® advocate for you, safeguard your interests, and guide you through every step of the process.

The NAR settlement signifies change, but it doesn’t render the need for a REALTOR® obsolete. Their expertise, integrity, and commitment ensure that you have a trusted ally in a shifting landscape. Remember, a house isn’t just walls and a roof; it’s a canvas for dreams, memories, and aspirations. And in this ever-evolving market, a REALTOR® remains your steadfast companion.

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.