NAR Settlement

On March 15, 2024, the National Association of REALTORS® (NAR) announced a settlement resolution to nationwide claims brought by home sellers related to broker commissions. The settlement is pending final court approval and changes will not likely take effect until summertime at the earliest. As an extension of your continued advocacy for NAR and our industry, we encourage you to understand and share the facts about the settlement.

NAR Settlement Facts – The materials found here are intended for reference by members, staff, and anyone supporting the National Association of REALTORS®. They will help provide background on current events related to the association and give you the tools to talk about them.

Bright MLS Settlement News and Updates

Bright MLS Rule Update Chart

Time is of the essence! Bright MLS is diligently aligning with the NAR settlement terms and streamlining their rules, merging previous policies into a single location. These pivotal changes are set to become operative on August 14, 2024. Don’t miss out on this crucial update! Ensure you’re in the loop by downloading the 2024 Rule Update Comparison chart at your earliest convenience.

Pennsylvania Association of Realtors® Settlement Resources

PAR Webinars – Three webinar education sessions are scheduled for July 8, August 7 and 23, 2024. Changes are coming to some PAR Standard Forms as a result of the NAR settlement. Understand and comply with new rules being implemented and how they may affect your business and working with clients. PAR Chief Legal Officer Hank Lerner and Associate Counsel Kacy Clouser will discuss the changes and how to implement these revised forms in your daily business. These webinars do not provide continuing education credits. Webinars will be recorded and shared with all those who are registered. Please do not cancel your registration if you wish to receive the recording.

PAR Forms Changes Summary – PAR Associate Counsel Kacy Clouser recently posted a summary of the August 1, 2024, forms changes. This article highlights the background of the changes, a list of the forms being updated and a brief summary of the main changes in the key forms. Make sure you take a few minutes to review the article.

More settlement resources from PAR can be found here.

What’s Ahead for You? Separate litigation facts from fiction, make your value clear – Read the Realtor® Magazine Special Supplement

Truth About the Settlement – Read the Realtor® Magazine Story

FORTUNE – 90% of homebuyers have historically opted to work with a real estate agent or broker. Here’s why that’s unlikely to change.