NAR Adds Guides for Buying and Practice Changes

ORLANDO, Fla.— The National Association of Realtors® published a new Consumer Guide for first-time buyers and created a video series for Realtors® to answer commonly asked questions about the proposed NAR settlement and practice changes.

Both resources are part of an array of tools designed to support informed decision-making and professional readiness for real estate professionals and customers. All of the resources can be viewed at the NAR website facts.Realtor. The Consumer Guides can also be printed as handouts. Most are available in English and Spanish.

New consumer materials

The Buying Your First Home guide answers questions that include “Who is considered a first-time homebuyer?”, “How do I find an agent?” and “What is a written buyer agreement?” with a focus on highlighting the value of working with a Realtor. It is the 13rd in NAR’s series to equip consumers with the tools they need to make informed choices.

Click the title to view the PDFs:

1. Why Am I Being Asked to Sign a Written Buyer Agreement? Covers recent practice changes when it comes to working with a real estate professional as a home buyer. Spanish
2. Open Houses and Written Agreements: Covers what buyers need to know about touring homes, attending open houses and when a written buyer agreement is needed. Spanish
3. Realtors’ Duty to Put Client Interests Above Their Own: Covers NAR’s strict Code of Ethics that all agents who are Realtors must follow and their ethical duties to act in their client’s best interests. Spanish
4. What Veterans Need to Know About Buying a Home: Covers what NAR is doing to promote access to financing for veterans and highlights the options available to veteran buyers in their homebuying process. Spanish
5. Offers of Compensation: Covers the process and options available for offering compensation to a buyer’s agent and the reasons why this may be a compelling option for sellers to consider when marketing their property. Spanish
6. Negotiating Written Buyer Agreements: Covers what home buyers should expect when negotiating a written buyer agreement with an agent who is a Realtor. Spanish
7. Seller Concessions: Covers the most common types of seller concessions, rules for when and where to offer them and how they can facilitate a successful transaction for both homebuyers and sellers. Spanish
8. Multiple Listing Services (MLSs): Covers what an MLS is and how it aids in the homebuying and home selling process. Spanish
9. Fair Housing: Covers housing discrimination and the Realtor’s role in ensuring fair housing practices are followed. Spanish
10.  Listing Agreements: Covers negotiating and signing a listing agreement with your agent. Spanish
11. Ten Questions to Ask a Buyer’s Agent: Covers questions buyers should consider when selecting an agent and highlights the importance of Realtors. Spanish
12. Ten Questions to Ask a Seller’s Agent: Covers questions sellers should consider when selecting an agent and highlights the important of Realtors. Spanish
13. Buying Your First Home: Covers where to begin and what resources are available to first-time buyers. Spanish version not yet available.

Video series

In addition, NAR’s legal affairs team has filmed a series of Windows to the Law videos focused on settlement facts, practice changes and MLS rules. Some of the topics include ethics, offers of compensation and fair housing and will be featured in the coming weeks on NAR’s Instagram and Facebook pages.

Click here to see all of the videos

Florida Realtors® resources

Be sure to check Florida Realtors’ NAR Settlement Resource Guide webpage frequently for the most up-to-date information about the practice changes, including videos, infographics and new and revised forms and contracts.

All forms are also available on Form Simplicity. 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.

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