NAR PROPOSED SETTLEMENT INFORMATION
Quick access to the most up-to-date information from NAR on the Proposed Settlement
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.
UPDATE ON FORMS CHANGES
June 21: (new forms) – LIVE NOW on Form Simplicity
- Broker to Broker Compensation Agreement
- Seller to Buyer’s Broker Compensation Agreement
- Modification to Compensation Agreement (the two listed above)
NOTE: Once all our forms vendors have uploaded/published the new forms, these forms will no longer be available on our website.
July 9:
- Amended Buyer Broker Agreement
- Amended Showing Agreement
- Amended Retainer Agreement
- Modification to Buyer Broker Agreement
July 23:
- expect the release of amended Listing Agreements and several other forms. One of those forms will address what you do with listings and buyer broker agreements that are in effect on August 17th that do not have the required language for settlement compliance.
October 1:
- Condo riders will change October 1, NOT July 1 as stated below. The change is mandated by the statute and is effective for Oct 1 not July 1.
