NAR Settlement Facts
Check here for the latest updates regarding NAR's Settlement and Industry Changes
Latest News
(June 11, 2024) NAR Applauds VA Announcement of Home Loan Benefit Changes
(June 3, 2024) Writen Buyer Agreements 101
(May 21, 2024) "VA Signals Temporary Suspension on Buyer Agent Payment Ban" Read the release here
(May 14, 2024) Maine Listings Board Votes to Opt-In to Settlement Terms, will file before June 18th deadline.
(May 3, 2024) "Our settlement requires NAR to implement the practice changes no later than the date of class notice. Through the preliminary settlement approval process, we now know the earliest date of class notice is August 17, 2024. We are announcing these important changes now to ensure NAR members and MLSs have ample time to prepare. MLSs that have opted into the settlement agreement have until September 16, 2024 to implement the necessary policy changes and to be considered released parties, as provided in the relevant appendices they executed. "
(April 23, 2024) "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 of conduct at issue in Sitzer-Burnett and the other settled Actions on behalf of home sellers related to broker commissions against NAR or other parties that are released under the settlement."
(April 19, 2024) Motion Filed for Preliminary Approval of Settlement Agreement-
Resource Library:
Settlement Facts Toolkit (updated 4.19.24)
Resources to assist you in Maine- Coming Soon!
Is it possible for offers of compensation to be conveyed through channels other than the MLS?
Yes. Offers of compensation could continue to be an option consumers can pursue off-MLS through negotiation and consultation with real estate professionals. And sellers can offer buyer concessions on an MLS (e.g. concessions for buyer closing costs), provided that such concessions are not conditioned on the use of or payment to a buyer broker. Get more facts about NAR's settlement agreement at facts.realtor.
Update from Fannie Mae, 4.15.24: Selling Notice: Real Estate Commissions and Interested Party Contributions
May 30th Update:
May 8th Update:
Access the NAR videos with settlement updates
NAR will also continue to provide updates about the settlement process for non-members – such as clients and consumers – on competition.realtor.
UPDATED TIMELINE (4.23.24)
Questions?
Maine Association of REALTORS ®
info@mainerealtors.com 207-622-7501
19 Community Drive, Augusta, ME 04330