On March 14, 2024, the National Association of Realtors® announced a proposed settlement agreement that would end litigation of claims brought on behalf of home sellers related to broker commissions. The agreement would resolve claims against NAR, over one million NAR members, all state/territorial and local Realtor® associations, all association-owned Multiple Listing Services (MLSs), and all brokerages with an NAR member as principal that had a residential transaction volume in 2022 of $2 billion or below. The settlement is subject to court approval. View facts about the proposed settlement and more.
NAR’s mandatory MLS policy changes, which implement the settlement’s required practice changes, took effect on August 17, 2024. Realtor® MLSs must implement practice changes by that date.
Settlement-Related Standard Forms Changes
Some of the PAR Standard Forms changed as a result of the NAR settlement agreement. The new forms took effect on Aug. 1, 2024. Review the many resources and JustListed articles that provide detailed information about the settlement agreement and how to implement the changes.
Resources
Visit facts.realtor for the latest updates on the proposed settlement and NAR Settlement FAQs for answers to some common questions.
- Download marked-up drafts of the forms by logging in and clicking “View the marked-up version” on each individual form page. View the list of Standard Forms that changed.
- Review the 2024 PAR Forms Update Comprehensive Guideline, which explains the changes and answers many frequently asked questions.
- Watch the recording of the Standard Forms Updates webinar.
- Review more resources like JustListed articles and webinars.
PAR JustListed
- Nov. 2, 2023: Reminder of Broker Compensation in Light of NAR Lawsuit
- July 15, 2024: Forms Changes 2024: I Hear There are Some Forms Changes?
- July 18, 2024: 2024 Forms Release Resources
- Aug. 1, 2024: PAR Standard Forms Release – Improving Your Transition Game
- Aug. 16, 2024: NAR Settlement Implementation: All* Your Questions** Answered***
- Aug. 30, 2024: Better Questions = Better Answers
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