The recent National Association of Realtors (NAR) settlement has caused a stir in the real estate world, and while it primarily impacts home sellers, there could be some indirect effects on rental property owners. Here's a breakdown of what you need to know:
- The Settlement: NAR agreed to pay a hefty sum to settle lawsuits alleging they inflated commission rates through their influence on Multiple Listing Services (MLS).
- Potential Impact on Selling Rentals: While the settlement focuses on home sales, it might lead to increased competition among agents seeking listings. This could potentially lead to lower commission rates when selling your rental property.
- Finding Agents for Rentals: There might be a temporary dip in agent availability for rentals as some adjust to the new landscape. However, increased competition could ultimately lead to better deals for landlords in the long run.
- Not a Direct Impact on Rental Management: The core aspects of rental agreements and management shouldn't be significantly affected.
