How Do Realtor Fees Work After the NAR Changes in 2024?

If you’re buying or selling a home in Portland, Oregon, you’ve probably heard about the August 2024 NAR settlementand how it affects Realtor fees. The changes are designed to increase transparency, clarify compensation, and give both buyers and sellers more control. But what does this really mean for you? Let’s break it down.

Key Changes to Realtor Fees in Portland

✍️ Written Buyer Agreements

Before touring homes, buyers must now sign a written representation agreement with their Realtor. This ensures buyers know exactly what services they’ll receive and how compensation works—no surprises down the road.

📉 No More Compensation Posted on MLS

Sellers are no longer required to advertise what they’ll pay a buyer’s agent in the MLS. Instead, buyer agent compensation is now a matter of direct negotiation between the buyer, the buyer’s agent, and sometimes the seller.

🔄 Commissions Remain Negotiable

There’s no standard or fixed Realtor commission in Oregon. Fees are always negotiable and depend on the scope of services, the complexity of the transaction, and the value an agent brings in marketing, negotiation, and representation.

So What? Why This Matters

• For Sellers: You now have more control over whether to offer compensation to a buyer’s agent—and how much. But offering nothing could limit your buyer pool. Strategy matters when attracting qualified buyers.

• For Buyers: You’ll know upfront what your Realtor earns and how those fees are handled. This gives you clarity, choice, and confidence in your home search.

Bottom line? Realtor fees are about value, clarity, and negotiation. An experienced Realtor ensures these rules work in your favor—not against you.