The NAR lawsuit changed how buyer's agent commissions work. New down payment and closing cost assistance programs help buyers navigate the shifting real estate market.
What are we doing to help in the aftermath of the national association of Realtors lawsuit? I'm sure, as you've heard, buyer's agent commission now is no longer predetermined. When somebody lists their home for sale, it's all negotiable. So if the seller doesn't agree to pay for the buyer's agent's commission, the buyer has to pay their agent out of pocket directly. Now, buyers don't try to outthink the room on this one. Good buyer's agents work their way to gold. I'll always believe that they get to know that homes are listed for sale days before you and I do because they have access to the mls. They also can help find off market properties that we wouldn't even know existed. And a bitty real estate estate contracts not something you want to figure out by trial and error. You want a professional and what happens is something pops up on the inspection or the appraisal report. You want somebody that works with 100% in your best interest, not somebody who's divided between you and the seller. This caused lawsuits in decades past. So clearly I see this headed in a direction where buyers are going to need more help without applying to expenses. They do also sometimes afford their buyer's agent the proper representation. So what we're rolling out is a more widened variety of down payment and closing cost assistance programs. We're rolling out a 2%, a 3.5% and a 5% down payment at closing cost coverage. This way we can take a big.
