"This new framework includes a new form and referral fee disclosure. The new form is titled the Consumer Choice in Your Real Estate Transaction form, which according to eXp, explicitly outlines the consumer's right to choose their ancillary providers. In addition, eXp said it is launching new sections in its seller and buyer agreements to provide greater clarity for consumers surrounding referral fees."
"In this environment, silence is not an option. Transparency is not just good business, it is the foundation of public trust. Regardless of external regulatory debates, eXp is moving first. We are empowering our agents to lead with clarity, ensuring every consumer understands their rights and the financials of their transaction. This is how we protect the human relationship at the heart of real estate."
A new Consumer Choice in Your Real Estate Transaction form explicitly outlines consumers' rights to choose ancillary providers and introduces referral-fee disclosure. New sections in seller and buyer agreements add clarity about referral fees and transaction financials. eXp positions transparency as foundational amid massive acquisitions of search portals by mortgage lenders and aggressive vertical integration, and seeks to empower agents to lead with clarity. The move follows NAR's Delegate Body overturning a board vote to amend Article 6, which would have required Realtors to obtain client consent for money, rebates, or referral profits. eXp previously launched a buyer broker agreement in 2023 in response to commission settlement changes.
Read at www.housingwire.com
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