New monthly local real estate column makes its debut in Ashland.news
By Carrie Dahle
In the charming heart of Ashland, where our homes are the backdrop to life’s most precious moments, we stand on the brink of a transformative shift in our real estate journey. The National Association of Realtors (NAR) settlement, awaiting court approval, beckons us towards a future rich with transparency and fairness. This shift comes against the backdrop of some outside the real estate industry not fully understanding the pro-consumer benefits and some within the industry not clearly articulating how the process works to their clients. All of which led to a breakdown of trust, reminding us of the vital importance of openness in every transaction.
Historically, the sale of homes in our community has been a delicate negotiation, a dance of dreams and possibilities where the value exchanged reflects a mutual agreement and understanding. Simply put, the seller has contracted a real estate broker to represent them in exchange for a percentage of the sale. Additionally, the seller offers a split of that agreed percentage to the buyer’s broker in exchange for bringing a buyer to the transaction and successfully closing the deal. The essence of this process — where a buyer’s willingness to engage, knowing their agent’s efforts are recognized and rewarded, and a seller’s receipt of a negotiated price that allows for this type of transactional fee, has been a cornerstone of our market’s integrity. Yet, as we step into a new era where these negotiations take on a new shape, the wisdom and guidance of experienced real estate professionals become indispensable.
When the settlement is approved, two pivotal changes will take shape. First, buyers will need to have a buyer’s representation agreement with their broker, aligning with Oregon’s law beginning in 2025 and with many of our local brokers who have used these agreements for years. Second, the seller’s contribution to a buyer’s broker fee will no longer be listed in the Multiple Listing Service (MLS). While this doesn’t preclude compensation, it shifts the conversation to a more direct negotiation between parties. This adjustment to policies and procedures creates a critical challenge: many buyers rely on the current system where costs are embedded in the transaction, facilitated by the home’s selling price, ensuring representation is accessible without upfront cash requirements. Sellers and buyers, with the help of their brokers, are now going to have clear conversations on how to represent everyone’s wants and needs best.
This evolution, though challenging, is imbued with a promise: a promise of a market that not only values but prioritizes the clear, unobstructed understanding between all parties involved. For those of us calling Ashland home, it signals a commitment to ensuring that every step taken towards buying or selling a home is done with clarity and confidence, upheld by the highest standards of our profession.
The road ahead is marked by the deepened significance of adept negotiation, where the role of experienced realtors in guiding, advising and supporting their clients shines brighter than ever. This is not a departure from our values but an affirmation of them — a commitment to a real estate process that cherishes transparency, champions fairness and cultivates trust.
As we navigate this new landscape together, let’s hold fast to the belief that our homes are more than just transactions. They are where memories are nestled, futures are dreamed, and community ties are strengthened. With open hearts and minds, we’ll embrace these changes, ensuring that Ashland remains a place where dreams of homeownership are pursued with integrity, guided by the trusted hands of those dedicated to serving the best interest of our community.
Ashland resident Carrie Dahle is president-elect of the Rogue Valley Association of Realtors and principal broker at John L. Scott, Ashland. Email her at carrie@scottlewisgroup.com.
Related article: ‘Early spring’: Rogue Valley home sales, inventory rise in first quarter of 2024 (April 6, 2024)
