Florida Realtors has ample resources, including new or revised forms and contracts, to assist you in complying with the settlement terms.
CHICAGO – By now, you’ve experienced changes to the way you do business as a result of the NAR settlement in the Sitzer-Burnett lawsuit. Changes went into effect on Saturday, Aug. 17.
Specifically:
- Offers of compensation are prohibited on Multiple Listing Services (MLSs). Offers of compensation will continue to be an option consumers can pursue off-MLS through negotiation and consultation with real estate professionals.
- Agents working with a buyer must enter into a written buyer agreement before the buyer can tour a home. The practice changes do not require an agency agreement or dictate any type of relationship.
Florida Realtors® has created or revised forms and contracts to assist you in complying with the settlement terms. All forms are available on Form Simplicity. Visit our NAR Settlement Resource Guide for previews and redlines.
Other useful Florida Realtors resources – webinars, news articles, infographics, videos, social media posts and more – are also available online.
As always, the Florida Realtors Legal Hotline is available weekdays to answer your questions at 407-438-1409. Questions may also be submitted online any time by clicking here.
Also, visit NAR’s facts.realtor for the latest updates on the settlement and practice changes and for additional resources to assist with implementation of the settlement terms.
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Author: amyc