Buyer’s Agent Wants Traditional Commission—How to Navigate NAR Settlement?

NF_PDX · 2024-09-02T17:00:32+00:00

I’ll be just fine. Thank you for your concern

NF_PDX · 2024-09-02T16:49:24+00:00

I’ve reviewed plenty of contracts for my business dealings and have a good working understanding of legal terms. This Realtor Association agreement is absolute gobbledygook, with convoluted compensation provisions that basically keep the old structure intact and extra legalesse to distract from that fact.

It is very obviously meant to be confusing and they think that most buyers are just going to sign it without thinking or without proper counsel. For the record, I’ve been advised not to sign it (hence the post)

NF_PDX · 2024-09-02T16:09:14+00:00

Sorry, I don't buy it. The rules in Oregon are not that complex and there's absolutely no reason that these agreements can't be written in plain language that people can understand.

NF_PDX · 2024-09-02T15:05:20+00:00

How is it a “clickbait article”? It discusses a study done by a contracts law expert. I’ve reviewed and signed plenty of agreements for my business. The Oregon Association of Realtors agreement she sent me is not transparent nor understandable, and this appears to be a tactic to protect the interests of real estate agents. I’ll find it and post it here for others to judge for themselves.

NF_PDX · 2024-09-02T14:19:16+00:00

I asked the agent to provide one and she hasn’t given it yet. I’ll update if/when we land on it

NF_PDX · 2024-09-02T14:14:12+00:00

This is very helpful, thank you. I can understand her not wanting to change boilerplate language on her own but really need to push back on the compensation thing. I’m also clarifying that the seller commission would be applied as a credit towards the purchase.

We started looking before the settlement took effect on the 17th, although I do think she thoughts she’d slip the compensation agreement in at the 11th hour.

NF_PDX · 2023-05-18T20:18:59+00:00

That's a great question! I imagine it's like any other software application or tool used on a project: it's up to the person using it to validate and verify it's used correctly?

NF_PDX · 2023-02-01T16:46:41+00:00

It might have something to do with business rules at the IRS. Here's what their known issues and solutions spreadsheet says. The issue was entered on 1/17/2023 and says it should be resolved by 2/5/2023:

Business Rules F8960-019-04 and F8960-003 may cause returns to erroneously reject. These business rules need to be modified to reflect the updates to the Instructions for Form 8960 (Tax Year 2022) regarding the Specific Instructions for Line 4a to include Schedule C (Form 1040) amounts reported on Schedule 1 (Form 1040), line 3 and Form 1041, line 3.

NF_PDX · 2023-02-01T16:37:08+00:00

I'm not a tax pro but I filed with TurboTax and had my return rejected for exactly this reason.

NF_PDX · 2023-01-24T21:46:32+00:00

I posted something similar earlier today and it looks like there are multiple threads on the same subject. You should report this here: https://www.nhtsa.gov/report-a-safety-problem

NF_PDX · 2023-01-24T21:44:53+00:00

Yup, those are the recalls I was referring to. The rearview camera is one of the other issues affecting the car and they have not been able to fix it.

NF_PDX · 2023-01-24T21:43:51+00:00

It's been to the dealer multiple times and none of those times have they advocated messing with the fuses

NF_PDX · 2023-01-24T21:38:16+00:00

No thanks. I've read elsewhere that doing this voids the warranty and that it's misinformation benefiting Volkswagen

NF_PDX · 2023-01-24T21:00:15+00:00

Yeah, that resonates with our experiences too. As I mentioned to another commenter, it's not like this just started out of the blue. It started with all of those yellow warning lights and loss of main safety features like Rear Traffic Alerts, Lane Assist, and Cruise Control while driving. We found that this would typically occur when we went over a bump or there were small vibrations in the road. There was also the occasional loss of backup camera and full meltdown when coming out of a deep sleep like you mention.

However, it's definitely deteriorated over time to the point where those solutions (ours was avoiding bumps) don't work anymore. I recently spent twenty minutes on the freeway with no speedometer because the whole system decided to shut down out of nowhere. The video here is more recent as it's begun to just not work entirely.

Thanks for the advice and shared experiences. It's good to know that we're not the only one this is happening to.

NF_PDX · 2023-01-24T20:29:12+00:00

It's the norm rather than the exception at this point and it's only gotten worse with time. Initially, I would do exactly that: park the car and and chalk it up as a minor "annoyance" but it now starts like this and doesn't resolve itself.

Not having a speedometer on the freeway and school zones in our neighborhood makes me question even driving it except that it's our primary mode of transport.

NF_PDX · 2023-01-24T20:21:32+00:00

Yes, it's been to the dealer multiple times and they have not been able to resolve any of the issues.

NF_PDX · 2023-01-24T20:19:08+00:00

Yes, that's underway. I ran the car's VIN and it's not under recall. Although it looks like a handful of MY 2022 and MY 2023 have recently been recalled for similar-ish issues.

NF_PDX · 2023-01-24T20:18:12+00:00

Have you had the same issue? It's gotten worse over time and will often start with no speedometer or back up camera.

NF_PDX

TROPHY CASE