Luis Urista - Real Estate Broker Associate

Since everyone is a real estate expert now especially with how business is conducted let’s continue all our continuing education as is required of all of us for every industry who are licensed by the state in which they operate….

For those who care to read more than just headlines:

Correcting the Record: NAR Does Not Set Commissions

Following recent inaccuracies in media coverage, including the false representation or suggestion that the National Association of REALTORS® (NAR) requires a standard 6% commission, NAR has issued the following statement:

The National Association of REALTORS® (NAR) does not set commissions – they are negotiable. The rule that has been the subject of litigation requires only that listing brokers communicate an offer of compensation. That offer can be any amount, including zero. And other rules throughout the MLS Handbook and NAR policy expressly prohibit MLSs, associations, and brokers from setting or suggesting any such amount that should be included in that field. The text of the current rule is linked here and excerpted below, the text of our MLS Antitrust Compliance Policy is linked here and excerpted below, and a notice included in NAR’s MLS Handbook is below.

Again, the current rule that has been the subject of litigation does not set commissions.

As reflected in our release about the proposed settlement agreement, NAR has agreed to put in place a new MLS rule prohibiting offers of broker compensation on the MLS. Commissions remain negotiable, as they have been.

Excerpt from Handbook on Multiple Listing Policy – Commission/Cooperative Compensation Offers, Section 1: Information Specifying the Compensation on Each Listing Filed with a Multiple Listing Service of an Association of REALTORS®

In filing property with the multiple listing service, participants make blanket unilateral offers of compensation to the other MLS participants and shall therefore specify on each listing filed with the service the compensation being offered by the listing broker to the other MLS participants. This is necessary because cooperating participants have the right to know what their compensation will be prior to commencing their efforts to sell.

The listing broker retains the right to determine the amount of compensation offered to subagents, buyer agents, or to brokers acting in other agency or nonagency capacities, which may be the same or different.

Excerpt from Handbook on Multiple Listing Policy – MLS Antitrust Compliance Policy

The purpose of multiple listing is the orderly correlation and dissemination of listing information to participants so they may better serve the buying and selling public. Boards and associations of REALTORS® and their multiple listing services shall not enact or enforce any rule which restricts, limits, or interferes with participants in their relations with each other, in their broker/client relationships, or in the conduct of their business in the following areas.

Boards and associations of REALTORS® and their MLSs shall not:

Fix, control, recommend, or suggest the commissions or fees charged for real estate brokerage services (Interpretation 14).
Fix, control, recommend, or suggest the cooperative compensation offered by listing brokers to potential cooperating brokers.

Excerpt from Handbook on Multiple Listing Policy – Notice to Association Members

Under the long-established policy of this association, the (state) association of REALTORS®, and the National Association of REALTORS®:

The broker’s compensation for services rendered in respect to any listing is solely a matter of negotiation between the broker and his or her client, and is not fixed, controlled, recommended, or maintained by any persons not a party to the listing agreement.
The compensation paid by a listing broker to a cooperating broker in respect to any listing is established by the listing broker and is not fixed, controlled, recommended, or maintained by any persons other than the lister broker. (Amended 4/92).

Correcting the Record: NAR Does Not Set Commissions The rule that has been the subject of litigation requires only that listing brokers communicate an offer of compensation. Other rules throughout the MLS Handbook and NAR policy expressly prohibit setting or suggesting any such amount.

We just launched this beautiful listing today!

4117 Vespa Cove, Leander, TX 78641 Travisso is about living the good life in the Texas Hill County. This beautiful Taylor Morrison-built single-story home situated on a culdesac is sure to impress with the exquisite curb appeal that exudes luxury living. The Magnolia offers an open floor plan concept with a spacious thoughtful layout...

Want to see my new listing in this award winning community?! Here you go!

Contact me for additional information and to schedule an exclusive tour today!

JPM- 4117 Vespa Cove Video JPM Real Estate Photography www.jpmrealestatephotography.com

I am proud to announce that I have been awarded The Circle of Achievement member at Kuper Sotheby's International Realty.

With the support of my friends and clients, you have helped me not only reach but surpass my goals for 2020. My ongoing success relies solely on the loyalty and support of my clients, like you. I look forward to helping you with your future real estate endeavors.

Thank you for being a part of my success!!

Word on the street is the Texas state legislature is possibly going to consider this to be the last time we change the clocks!!

Don’t forget to reset your clocks this weekend!!

in Cedar Park.
525 Tyree Rd.
$425k - Single Story - Corner Lot - 1650sqft - 4 Bed - 2 Bath - Open Floor plan concept.
Improvements include - LVP flooring, new carpet/padding, stainless appliances, fresh paint throughout (baseboards, trim, doors, closet, walls).
Silverado Ranch Subdivision - Walking distance to top ranked LISD elementary, middle and high school.
Property will go live Thursday or Friday and accessible via supra lockbox