NAR Settlement Information Hub from GPSR


Greater Palm Springs REALTORS® is providing this page to keep members updated on the recently proposed settlement by NAR. Please visit here regularly for the latest information.


Join us for a free zoom class July 18 on the newly revised and new forms related to the settlement. Click here for info

To view the training schedule, forms summary and FAQ about new forms for REALTORS®, please click here


July 9, 2024

As we informed you last week, on July 10, C.A.R. will release several new and revised forms as part of its semi-annual standard forms update. We have spent the last several months evaluating and working on these revisions in order to provide the best possible forms for our members and their clients, especially in light of the practice changes associated with the NAR settlement. 

While numerous changes have been made to these forms, I want to draw your attention to one change in particular. As part of our analysis of what is needed at this moment and, more significantly, what we anticipate will become important in the near future, we have made the decision to remove the listing broker’s offer of compensation from these forms. While we recognize that the offer of compensation remains legal and valid, we nonetheless believe this change is in the best interests of our members and consumers. Our goal, with this change, is to be proactive, looking ahead to where industry practice needs to be. 

We know change is hard, but we also know that C.A.R. needs to lead the way within the industry, as we have always done. As your business partner, we will be providing numerous training opportunities on these forms beginning tomorrow. Six townhalls with C.A.R. leadership and legal team are scheduled (see schedule below) within the next two weeks. Some will be recorded as well. 

Additionally, C.A.R. Education will offer two new classes on settlement-related forms: a Buyer Representation Form class and a Residential Listing Form class. Members can access the classes for FREE by logging into store.car.org and entering discount codes at checkout. Class details and codes will be emailed to all members and will also be available on store.car.org.

The forms will be released in zipForm® and other forms platforms on July 24. As a reminder, in order to be in full compliance by August 17, when the mandates of the NAR settlement go into effect, it is imperative that C.A.R. members are ready to use the new forms and prepared to discuss the changes with their clients. 

We understand there is uncertainty, confusion and competing opinion about where the industry is heading and how to move ahead given ongoing litigation. We also know that we will all get through this moment together, do what we need to do to adapt, and emerge even stronger as an industry of professionals who work tirelessly every day to support the dream of homeownership for others. 

All-Member Townhalls

• Wednesday, July 10, 10 a.m. – 11:30 a.m.• Tuesday, July 16, 9 a.m. – 10:30 a.m.
• Thursday, July 11, 11 a.m. – 12:30 p.m.• WednesdayJuly 17, 9 a.m. – 10:30 a.m.
• Friday, July 12, 9 a.m. – 10:30 a.m.• FridayJuly 19, 9 a.m. – 10:30 a.m.

Please go to on.car.org/townhall to sign up for a townhall and check back often to learn about additional training opportunities in the weeks ahead. You may attend more than one townhall, however, each one will cover the same material.

For more information: smartzonecar.org | on.car.org/brokercompliance

Thank you,

Melanie Barker
C.A.R. President

Here is an update from NAR, as of July 1, 2024, from NAR President Kevin Sears

Dear NAR members, 

I’m reaching out to share an update from Washington, D.C., where I was excited to be this week with members of NAR Leadership for an important meeting with the Department of Justice Antitrust Division to discuss the issues the DOJ is reviewing in the real estate industry. We were pleased that, from the DOJ side, the meeting was led by U.S. Assistant Attorney General Jonathan Kanter, a top decision maker and leader on antitrust policy at the Department. We were also happy to have alongside us Gary Acosta, CEO of the National Association of Hispanic Real Estate Professionals and strong real estate policy advocate.

This meeting was a big step in our process to have meaningful dialogue with the DOJ, directly between leaders, about the issues that matter to us as REALTORS®. While there is much more work to be done, the meeting was productive as we try to find “common ground” on topics that define how we do business and support the dream of home ownership in America.

At the end of our meeting, my first question was, “when can we meet again?” We are committed to continuing the conversations with the DOJ on topics such as the value REALTORS® bring to real estate transactions, the critical importance of competition in our industry, offers of compensation, listing availability, consumer choice, and promoting access to homeownership for all. 

Coming out of the meeting, there were some clear takeaways we wanted to share with you regarding areas of DOJ focus. As we all work together to prepare ahead of the August 17 practice change implementation date, please keep the following in mind: 

  • Developing new or revised forms: I encourage all members involved in creating new or revised forms to evaluate them for clarity and emphasis on consumer choice. The settlement empowers buyers and brokers to negotiate and mutually agree to services and compensation that work for them. REALTORSâ should work with consumers to ensure they fully understand the options available to them while continuing to seek fair compensation for their services. We’ve compiled tips on developing written buyer agreements here, and I encourage you to take a look. 
  • Implementing and adhering to settlement provisions in good faith: The DOJ raised concerns regarding industry participants using potential avenues to “circumvent” the coming practice changes. To be clear: NAR—and I personally—oppose any attempts to circumvent the settlement. The practice changes should be implemented fully and in good faith, in the service of promoting consumer empowerment, consumer choice, and healthy competition. Answers to questions about how to approach the practice changes in detail are available in our FAQ, and we will continue to provide resources as we navigate the days ahead. 
  • While conversations are ongoing, it does not prevent additional DOJ action: Our recent meeting marks an important step forward in maintaining a productive relationship with the DOJ. However, we expect the DOJ to continue making inquiries into industry practices. Please reach out to the NAR legal team for support requests or questions.

As always, thank you for your membership and all that you do to make homeownership dreams a reality. We will continue to keep you updated as our conversations with the DOJ progress.

Thank you, 

Kevin Sears
2024 NAR President 

Go to NAR’s Drive Podcast At This Link to Get These and Other Discussions On The Topics Happening Now


NAR Site Updated: Get More Info to Prepare for Settlement-Related Changes. Go to Facts.Realtor

CLICK HERE for info on new forms from C.A.R. (scroll to forms on the page that comes up)

From: Lesley Muchow
Subject: Reminder for MLSs: Opt-In to the NAR Settlement by June 18, 2024

Hello Association Executives,  

We are writing this message as a reminder for Association Executives that the deadline to opt-in to NAR’s Settlement Agreement on June 18, 2024, is rapidly approaching. To ensure that all appropriate audiences are reminded to opt-in to the agreement, we ask that you share the instructions below with relevant MLS contacts so they do not miss the deadline to obtain a release of liability if they haven’t already done so. 

State and local REALTOR associations, as well as Individual NAR members, are already included in the Settlement Agreement and do not need to take any action. This reminder is for MLSs.

REALTOR® MLSs (owned exclusively by one or more REALTOR® Member Boards) must…

Non-REALTOR® MLSs must…

Plaintiffs will confirm receipt via email once completed appendices have been submitted. 

Individual NAR members are already included in the Settlement Agreement and do not need to take any action. 

Additional reminder: Following this opt-in deadline, NAR’s mandatory MLS policy changes will take effect on August 17, 2024. Get more info at facts.realtor.

Please don’t hesitate to reach out with any questions. 

Thank you, 

Lesley

The following updates were published May 31 by NAR, involving the upcoming written buyer agreements. You can get the latest info at facts.realtor – click here


From Katie Johnson
Chief Legal Officer and
Chief Member Experience Officer
National Association of REALTORS®


This update came on May 21, 2024 from the National Association of REALTORS®

The following letter was released by NAR on April 23, 2024. For a PDF copy, click here

National Association of REALTORS® leaders have been talking to reporters and members full-time over the past month to correct the record about the association’s decision to resolve nationwide claims brought by home sellers. You can help by challenging inaccurate information that you see appearing in social media posts, news articles or elsewhere.



Frequently Asked Questions About the Settlement


CLICK HERE

and go to facts.realtor



The Importance of Working with a REALTOR® And Why They’re Worth Their Compensation!

CLICK HERE



Information on Buyer Representation

CLICK HERE


CLICK HERE FOR PDF


CLICK HERE FOR PDF


We will be updating this page with new information regularly, and we encourage you to stay updated as the proposed settlement moves forward, as it will produce new rules, new forms and lots of additional information.

GPSR will keep you in the loop.

Please check back here, and use the BREAKING NEWS and EVENTS choices on the menu under MEMBERS, and please visit our weekly meetings at Mizell Center on Wednesdays (see calendar on menu for information)

Call us at 760-320-6885 or email info@psrar.org if we can be of any assistance!

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