GRAND RAPIDS, Mich. (ABC 4)—Many people are aware of the NAR (National Association of Realtors) settlement, which took effect on August 17, but they may not know how it affects home buyers and sellers.

To discuss the settlement and explain new rules, Lisa Novosad from Novosad Realty joins Jennifer Feuerstein on “Real Possibilities with AARP Michigan.”

According to the settlement, new rules include:

  • Changes to how agents are compensated.
  • Buyers will need to sign a contract before touring properties.
  • Sellers won’t automatically cover the costs of agents’ fees for buyers.

>>> Learn more in the featured segment.

Sponsored by Novosad Realty Partners.