NAR Proposed SETTLEMENT INFORMATION

Quick access to the most up-to-date information from NAR on the Proposed Settlement
facts.realtorcompetition.realtor

NATIONAL ASSOCIATION OF REALTORS® REACHES AGREEMENT TO RESOLVE NATIONWIDE CLAIMS BROUGHT BY HOME SELLERS

The agreement would resolve claims against NAR, over one million NAR members, all state/territorial and local REALTOR® associations, all association-owned MLSs, and all brokerages with an NAR member as principal that had a residential transaction volume in 2022 of $2 billion or below.

March 22, 2024 Settlement Briefing with Kevin Sears & Katie JohnsoN

March 21, 2024 Kevin Sears: Discussing Key Settlement Considerations and Ongoing Advocacy Efforts On the Road

March 15, 2024 Litigation Update: Kevin Sears and Katie Johnson

News & Updates

Florida Realtors Legal Update Webinar Available

In this hour-long webinar, Juana Watkins, Vice President of Law and Policy & General Counsel for Florida Realtors® answers some of the most frequently asked questions about the settlement and provides practical information that you can put to use today and in the days...

read more

Real Estate Today Podcast on the NAR Settlement

In this week's episode of Real Estate Today, NAR President Kevin Sears gives the facts about the $418 million settlement and what it means for homebuyers and sellers. You can find the episode on facts.realtor, or by accessing the link here.

read more

The Truth About the NAR Settlement Agreement

Link to article here Misinformation has been pervasive in the media over real estate commissions. Here are the facts you should know. The national conversation around real estate commissions reached a crescendo in the last week since the National Association of...

read more

Statement on ECAR MLS

The NAR Settlement has NOT been accepted by the Judge in the case, so it is not final. As a result, no MLS rules have been updated and no requirements have been issued by NAR. Florida Realtors, in conjunction with the Florida Legal team, continues to work on updates...

read more

Update on Forms Changes

Florida Realtors is continuing to work on updates to forms and the creation of new forms in response to NAR’s proposed settlement.

read more

Updated Florida Realtors Forms/Contracts

Good afternoon ECAR Members, Please find below a list of all the forms that have been updated in Form Simplicity:(All listing forms included in the “Note” comments below) Several listing agreements were modified with regards to offers of compensation. The affected...

read more

Correcting the Record: NAR Does Not Set Commissions

Following recent inaccuracies in media coverage, including the false representation or suggestion that the National Association of REALTORS® (NAR) requires a standard 6% commission, NAR has issued the following statement: CHICAGO (March 19, 2024) – The National...

read more

A message from President Keith Wood on the NAR Settlement

As sent to ECAR members on March 15, 2024: Good afternoon ECAR Members, Please see below the announcement made this morning from NAR® President Kevin Sears regarding the proposed settlement in the on-going Home Seller Class Action Lawsuits. Cognizant of our...

read more

FREE CE Webinar: Understanding Buyer Broker Agreements

Earn 3 CE credit hours FREE via Zoom while making sure you’re up-to-date on the way the real estate business is changing.

Because some MLSs are changing the way brokers do business it is more important than ever that all Realtors have all the tools and knowledge possible to do business successfully. The 2024 Leadership Team has approved hosting the 3-hour (CE-approved) course “Understanding Buyer Broker Agreements and How to Implement Them” via Zoom Video Conferencing throughout the year.

About the course

Course description: Have you ever felt like saying, “Buy from me or get out of my car.” You work with a buyer for days on end, drive them to every house they want to see, only to find out a week later that they used their Great Aunt Lucy, who has a real estate license, to buy a home? Loyalty seems to be at an all-time low. The internet helps buyers gain tons of information and we as licensees have to prove our worth and value even more today. Why should a buyer pick one agent to work with and be loyal? Is there a way a buyer can do that? We ask sellers to commit to one brokerage with an agreement so why don’t we ask buyers for the same commitment? Let’s find out how.

After taking this class students will be able to:

  • Explain the importance of working exclusively with a buyer
  • Determine which agreement is appropriate when
  • Understand how written agreements protect both the customer and the brokerage
  • Recognize what an exclusive representation means when working with a buyer
  • Comprehend what types of agency relationships are authorized with an exclusive buyer-broker agreement
  • Clarify to a buyer the importance of the agreement and how to present it
  • Appreciate the arbitration hearing process and how clear written agreements between the buyer and seller can reduce the confusion of procuring cause.

SETTLEMENT INFO SHEETS

In the coming weeks, we’ll be detailing  information that is important for our members regarding the proposed NAR Settlement.

These are meant to be quick guides to clear up misconceptions, point out specific details or answer questions we may have coming in.

We’ll be posting these info sheets on social media and archiving them in this space for future reference.

Skip to content