Saturday, October 12, 2024
Jacque Gordon, REALTOR® and president of the Granbury Association of REALTORS®, has addressed common misconceptions regarding recent changes to the National Association of REALTORS® rules.
According to Gordon, one prevalent myth is that the settlement will drastically reduce the cost and quality of real estate services. She clarified, “It’s not going to affect anything because all industry professionals are committed to improving their knowledge and dedication.”
The NAR settlement, which took effect in August, introduces greater transparency in the home buying and selling process. Gordon explained that this change is designed to benefit both buyers and sellers by clearly delineating who is responsible for various costs. “Both buyers and sellers will benefit from the formalized process,” she said. “It’s about making sure that everything is transparent and that no one is assuming who’s paying for what.”
Gordon also tackled the misconception that buyers will now have to pay their real estate agent out of pocket due to the new rules. She reassured that there are various ways for buyers to pay for services, and in Texas, the role of the buyer’s representative remains unchanged. “In Texas, before the NAR settlement, we already had buyer representation, which hasn’t changed,” she said. “Because there was only a moment when we had only a seller agency — many years ago.”
“For Texas REALTORS®, nothing’s really changed except for more forms,” Gordon stated. She emphasized that real estate agents will continue to provide value through transparent and fair practices. “One of the benefits of this is truly transparency,” Gordon noted. “We’re going to have a few kinks, but once buyers and sellers realize it’s not a huge change, it’s going to make things easier.”
Gordon offered advice to sellers, highlighting the importance of recognizing the value of buyer’s agents. “The best advice I can give to a seller is that they recognize the buyer's agent value and know that they’re going to be able to sell their home quicker, and most likely for the most amount of money by making sure that they do offer cooperative (buyer’s agent’s) compensation,” she said.
“Our job is to care for our clients. It’s not just about putting a sign in the yard,” Gordon said. Defending the role of real estate agents, she asserted that their responsibilities extend beyond simply listing properties. “It’s about providing comprehensive service to ensure the best outcomes for our clients. Realtors are always evolving to raise the client representation and care standard.”
