Buyer RepresentationSeller ConcessionsMEDIUM
Under the new rules, can a seller still offer concessions to help buyers with closing costs?
Correct Answer
B) Yes, seller concessions for closing costs are still permitted
Sellers can still offer concessions to help buyers with closing costs, including potentially covering buyer agent compensation. The change is that such offers cannot be advertised on the MLS.
Answer Options
A
No, all seller concessions are prohibitedB
Yes, seller concessions for closing costs are still permittedC
Only for FHA buyersD
Only up to $5,000Video Explanation3 min
Audio Lesson3 min
Study Infographics
Why This Is the Correct Answer
Sign up free to unlock full analysis
Was this explanation helpful?
More Buyer Representation Questions
What must happen if a buyer wants to switch from one buyer's agent to another?
Which entity enforces the new buyer representation agreement requirements?
The written buyer agreement requirement applies to:
The written buyer agreement requirement helps ensure:
According to the NAR settlement, buyer brokers cannot:
- → Under the new rules, can buyer agent compensation be included in the buyer's mortgage financing?
- → What is the primary antitrust concern that led to the NAR settlement?
- → The NAR settlement affects which of the following?
- → A buyer's agent compensation can be structured as:
- → What happens if a buyer refuses to sign a buyer representation agreement?
- → If a buyer finds a property on their own after signing a buyer representation agreement, they:
- → Which statement about buyer agent compensation under the new rules is TRUE?
- → Which of the following practices is NOW PROHIBITED under the NAR settlement?
- → A buyer's written agreement must clearly state that:
- → Under the 2024 NAR settlement rules, when must a buyer's agent have a written agreement with a buyer before showing properties?
People Also Study
Property Ownership
10% of exam
Land Use Controls and Regulations
8% of exam
Valuation and Market Analysis
10% of exam
Financing
12% of exam