NAR Releases New Consumer-Focused Resources Ahead of Practice Changes in Settlement Agreement
30 Julio 2024 - 4:25PM
The National Association of REALTORS® (NAR) today published new
resources to help guide consumers on the impact of the March 15th
settlement agreement (“Settlement”) and support both REALTORS® and
consumers as they navigate the changes required by the
agreement.“Prior to and throughout the Settlement litigation, NAR
has remained committed to protecting consumer choice and
transparency, and to making homeownership accessible for all
Americans,” said Nykia Wright, Interim CEO of NAR. “With these new
resources, REALTORS® are even better equipped to inform and empower
consumers and continue to demonstrate the value they bring to real
estate transactions.”The new resources are all available on
facts.realtor, NAR’s centralized website for information on the
settlement, and include:
- Fact sheets on
what the practice changes mean for homebuyers and home sellers.
These resources—one for sellers and one for buyers—outline what
buyers and sellers should expect after Aug. 17 and the value
REALTORS® provide to consumers in these transactions.
- A broker’s guide
to upcoming practice changes. These slides provide an overview
of the settlement, information on corresponding practice changes
and implementation, and guidance on how to help consumers
understand what these changes mean for them and their homebuying or
selling transactions.
- A template
compensation disclosure for active listing or buyer agreements as
of Aug. 17. The template disclosure can be used for active
agreements as of Aug. 17 that will need to be amended or
supplemented with a separate disclosure to conspicuously note that
compensation is not set by law and is fully negotiable. For more
information on requirements for amending active listing or buyer
agreements, please see FAQs #52, #53, #71, and #72.
For more information on the Settlement and what it means for
members and consumers, please visit facts.realtor.
About the National Association of Realtors®The National
Association of Realtors® is America’s largest trade association,
representing 1.5 million members involved in all aspects of the
residential and commercial real estate industries. The term
Realtor® is a registered collective membership mark that identifies
a real estate professional who is a member of the National
Association of Realtors® and subscribes to its strict Code of
Ethics.
# # #Information about NAR is available at
nar.realtor. This and other news releases are posted in
the newsroom at nar.realtor/newsroom.
Suzanne Bouhia
National Association of Realtors®
sbouhia@nar.realtor