The recent changes from the National Association of Realtors (NAR) settlement have brought about significant shifts in the way real estate transactions are conducted. As Christian homeowners, it's important to approach these changes with a mindset that reflects our values of integrity, stewardship, and trust in God’s guidance. Here’s what you need to know about these changes and how they might impact you as a buyer or seller.
1. Written Agreements with Your Agent: Transparency and Integrity
Proverbs 16:3 reminds us to “Commit to the Lord whatever you do, and He will establish your plans.” One of the key changes is that you must have a signed written agreement with your real estate agent before touring any home, whether in person or virtually. This ensures transparency and clarity, allowing both you and your agent to understand the services provided and the associated costs. As Christians, this aligns with our commitment to conduct all our dealings with honesty and integrity.
2. Open Houses Without Representation: Exercising Wisdom
Attending open houses without representation is still allowed, providing you with more freedom to explore homes. However, it’s crucial to exercise wisdom, as Proverbs 2:6 says, “For the Lord gives wisdom; from His mouth come knowledge and understanding.” While you can visit open houses on your own, having a knowledgeable and trustworthy agent by your side can help you navigate potential pitfalls and make informed decisions that align with your long-term goals.
3. Agent Compensation: Practicing Good Stewardship
A significant aspect of the NAR settlement is that agent compensation is fully negotiable for both buyers and sellers. Luke 16:10 teaches us, “Whoever can be trusted with very little can also be trusted with much.” As you discuss compensation with your agent, consider it an opportunity to practice good stewardship of the resources God has entrusted to you. Whether you’re buying or selling, ensure that the agreement is fair and reflects the value of the services provided.
4. Seller’s Role in Buyer’s Agent Compensation: Attracting Buyers with Grace
While sellers are no longer required to compensate a buyer’s agent, offering compensation can still be a strategic way to attract more buyers. Colossians 3:23 encourages us, “Whatever you do, work at it with all your heart, as working for the Lord, not for human masters.” By offering a fair commission to the buyer’s agent, you may increase the number of interested buyers, which can lead to a more successful sale. Consider this as part of your overall strategy to sell your home in a way that honors God.
5. Advertising Buyer’s Agent Commission: Adapting to New Practices
According to the new rules, a listing agent can no longer advertise the buyer’s agent commission on the MLS. However, they can still share this information through flyers, emails, text messages, or phone calls. This change requires us to adapt, and Philippians 4:6 tells us to “...not be anxious about anything, but in everything by prayer and supplication with thanksgiving, let your requests be made known to God.” Stay informed and flexible, and work closely with your agent to ensure you are making the most of these new practices.
Conclusion: Trusting God in the Process
These changes may seem daunting, but as Christian homeowners, we can navigate them with faith and wisdom. Proverbs 3:5-6 reminds us to “Trust in the Lord with all your heart and lean not on your own understanding; in all your ways submit to Him, and He will make your paths straight.” Whether you are buying or selling, approach these changes with prayer, seek wise counsel, and trust that God will guide your steps.
If you’re ready to navigate these new real estate changes and want to ensure your decisions reflect your faith and values, contact us today. Together, we can honor God throughout your home-buying or selling journey.
