Dear Fellow Oregonians,

You’ve likely come across the recent antitrust lawsuits and the subsequent settlement between the National Association of REALTORS® and brokerages nationwide. However, a lot of confusion and misinformation is swirling around.

Now is the time for Oregon REALTORS® to connect directly with the public. As a non-profit trade organization, Oregon REALTORS® proudly represents over 16,000 real estate professionals across the state. Real estate forms the bedrock of the mission, but it also embodies the essence of the American dream. Whether it’s homeownership or commercial ventures, Oregon REALTORS® practitioners possess a deep understanding of real estate intricacies. As these settlements shift certain real estate practices, Oregon REALTORS® is adept at navigating evolving market dynamics. Adaptability is ingrained in the industry’s DNA. It is the business of change, after all.

While Oregon REALTORS® recognizes that uncertainty can be unsettling, here’s the bottom line:

Two significant changes resulting from this litigation and settlement will impact consumers when they work with an agent.

• Properties listed in databases like the Multiple Listing Service (MLS) will no longer include an offer of compensation to buyer’s agents. However, listing agents and sellers may continue to offer and negotiate compensation for buyer broker services.
• Homebuyers seeking to work with an agent must establish a formal written agreement before touring a home. This entails discussing and agreeing with your agent on the scope of services they will provide on your behalf, as well as determining the extent and method of payment for those services before embarking on your home search.

These two changes aim to uphold consumers’ options regarding real estate services and compensation. Oregon REALTORS® has consistently upheld the principles of clarity, transparency and professionalism, which define its identity and will continue to guide it moving forward.

Oregon REALTORS® embodies more than just the role of facilitating property transactions; it stands as a staunch advocate for private property rights and champions fair and affordable housing opportunities. Oregon REALTORS® is comprised of people in the community, and you likely recognize them as your neighbors, community allies and dedicated service providers. The Oregon REALTORS® mission extends beyond transactions; members strive to leave homes, communities and friendships enriched and improved.

In reality, real estate transactions are intricate and multifaceted. With persistent challenges like low inventory levels and affordability across the state, REALTOR® champions are dedicated to ensuring consumer success in homeownership endeavors. They’re committed to assisting you in evaluating all options aligned with your criteria, empowering you to make an informed and educated decision. While these practice changes will affect you as a consumer, you can trust that they have your back. Oregon REALTORS® remains steadfast in promoting access to real property ownership for everyone throughout their beloved home state.

Just as they’ve done over the past 90 years, regardless of market conditions or challenges, Oregon REALTORS® will remain steadfast in supporting clients, serving the community and excelling professionally. Oregon REALTORS® commitment remains unwavering: to forge a future where real property ownership is within reach for all who aspire to attain it.

Sincerely,

Ashleigh Fordham

2024 Oregon REALTORS® President

Read the Article Here:

https://www.statesmanjournal.com/story/sponsor-story/oregon-realtors/2024/06/04/oregon-realtors-stand-strong-for-their-communities-through-change/73960530007/

https://www.registerguard.com/story/sponsor-story/oregon-realtors/2024/06/04/oregon-realtors-stand-strong-for-their-communities-through-change/73960693007/

https://www.wweek.com/promotions/2024/05/21/oregon-realtors-stand-strong-for-their-communities-through-change/