New NAR Consumer Guide: Seller Concessions

WASHINGTON – The National Association of Realtors®’ newest installment in its Consumer Guide series covers seller concessions, providing customers with additional valuable information to navigate the recent industry changes.

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The new guide covers the most common types of seller concessions, rules for when and where to offer them and how they can facilitate a successful transaction for both homebuyers and sellers. The guides, which can be viewed at the NAR website facts.Realtor or printed as handouts, empower buyers and sellers with the information they need and underscore the value Realtors provide. They are available in English and Spanish. Click the title to view PDFs:

1. Why Am I Being Asked to Sign a Written Buyer Agreement?: Covers recent practice changes when it comes to working with a real estate professional as a home buyer. Spanish

2. Open Houses and Written Agreements: Covers what buyers need to know about touring homes, attending open houses and when a written buyer agreement is needed. Spanish

3. Realtors’ Duty to Put Client Interests Above Their Own: Covers NAR’s strict Code of Ethics that all agents who are Realtors must follow and their ethical duties to act in their client’s best interests. Spanish

4. What Veterans Need to Know About Buying a Home: Covers what NAR is doing to promote access to financing for veterans and highlights the options available to veteran buyers in their homebuying process. Spanish

5. Offers of Compensation: Covers the process and options available for offering compensation to a buyer’s agent and the reasons why this may be a compelling option for sellers to consider when marketing their property. Spanish

6. Negotiating Written Buyer Agreements: Covers what home buyers should expect when negotiating a written buyer agreement with an agent who is a Realtor. Spanish

7. Seller Concessions: Covers the most common types of seller concessions, rules for when and where to offer them and how they can facilitate a successful transaction for both homebuyers and sellers. Spanish available at a later date.

In addition, Florida Realtors®’ NAR Settlement Resource Guide webpage includes a wealth of information about the practice changes, including videos, infographics and new and revised forms and contracts.

All forms are also available on Form Simplicity. As always, the Florida Realtors Legal Hotline is available weekdays to answer your questions at 407-438-1409. Questions may also be submitted online any time by clicking here.

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