Real Estate Law

Real Estate transactions is experiencing an overhaul. In October 2023, a Federal jury found the National Association of Realtors, it’s affiliates, and multiple large national brokerages conspired to raise commissions when signing with homesellers. The jury awarded the grieved Plaintiffs an astounding $1.8 Billion against these real estate associations.

August 17, 2024 is the nationwide deadline for NAR, its affiliates, Real Estate brokers and agents to change its almost 100 year custom of charging sellers commissions.  It is facing a new paradigm in compensation when represented by real estate agents.

In these uncharted waters, it is advisable to seek legal assistance in transactions where there may no longer be a Buyer’s Agent present in a transaction because a home seller no longer is required to pay a buyer’s agent a commission as has been customarily imposed.  The likelihood for Listing Agents to act as Dual Agents - representing both the Seller and the Buyer in the same transaction might result in conflict of interests. 

Having a real estate attorney review the documents for the Buyer when a Broker stands as Dual Agent may be advisable for each partys’ protections. Give us a call today.