NAR Proposed SETTLEMENT INFORMATION
Quick access to the most up-to-date information from NAR on the Proposed Settlement facts.realtorcompetition.realtorNATIONAL 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.
News & Updates
ECAR Implements NAR Settlement August 12th
A Message from ECAR President Keith Wood: ECAR Implements NAR Settlement August 12th Dear Members, The Emerald Coast MLS, Inc. Board of Directors met on Monday, June 24 and discussed the NAR Settlement implementation deadline of August 17th and the date for...
NEW: Revised buyer broker forms from Florida Realtors
The Exclusive Buyer Brokerage Agreements have been revised and simplified to improve their usability and bring them into compliance with the National Association of Realtors settlement agreement. These forms are now live on Form Simplicity: Exclusive Buyer Brokerage...
NEW! Florida Realtors Releases Buyer Representation Forms
Florida Realtors has released four new forms — two compensation agreements and modification forms, for each compensation agreement. All are now available for download on Form Simplicity. (Login required) These new forms aim to provide maximum flexibility to...
Florida Realtors: Timing of the Release of New/Updated Forms
Forms are set to be released as follows. Please note this is subject to leadership approval, etc. MID-JUNE: (new forms) Broker to Broker Compensation Agreement Seller to Buyer’s Broker Compensation Agreement Modification to Compensation Agreement (the two listed...
Florida Realtors: Buyer Representation Forms Coming Mid-June
From Florida Realtors: https://www.floridarealtors.org/news-media/news-articles/2024/05/buyer-representation-forms-coming-mid-june Florida Realtors said its updated forms reflecting practice changes from the NAR national settlement will be released in mid-June rather...
Update from NAR Legal Counsel : New F.A.Q.
Hello,We are writing to share that we have updated our FAQ to include additional information and clarity about written buyer agreements. As you know, as a part of our settlement, we have agreed to require MLS participants working with buyers to enter into written...
Litigation Update: Preliminary Approval of Settlement Agreement Granted
From NAR Legal Counsel Katie Johnson: Today, Judge Bough granted that motion which means that as of today, the settlement agreement is preliminarily approved. Settlement class members are now enjoined from filing complaints or prosecuting any claims based on the type...
Litigation Update: Motion Filed for Preliminary Approval of Settlement Agreement
From NAR Legal Counsel: Late last night, on April 19, 2024, Plaintiffs’ counsel filed a Motion for Preliminary Approval of this agreement with the federal court in the Western District of Missouri. Importantly, this filing initiates the 60-day time period during which...
Fannie Mae and Freddie Mac issued guidance, echoing sentiments already shared by FHA Commissioner Julia Gordon
Read more here: https://www.housingwire.com/articles/gses-will-not-count-buyer-agent-commissions-as-ipcs/
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...
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.
October 2024
Understanding Buyer Broker Agreements
Understanding Buyer Broker Agreements
Instructor: Caroline Boland | CE Hours: 3
November 2024
Understanding Buyer Broker Agreements
Understanding Buyer Broker Agreements
Instructor: Florida Realtor Faculty | CE Hours: 3
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.