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FOR REALTORS®

The Reality of Real Estate

HAR.com is your home for the facts
The reality of real estate is that the market is always evolving. The National Association of REALTORS® settlement has undoubtedly generated questions and concerns among REALTORS®, consumers and the media. HAR is here to support you, get the facts out to the public and communicate the value of using a REALTOR®.
3 Ways the Settlement Impacts Homebuyers
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3 Ways the Settlement Impacts Home Sellers
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REALTOR® Toolkit

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The HAR REALTOR® Toolkit is packed with assets highlighting the benefits of working with a REALTOR®. Download the assets and customize them with your branding then share with your clients, on your social media pages or in your listing presentations.
Access the REALTOR® Toolkit

Frequently Asked Questions

3 Ways the Settlement Impacts Homebuyers
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3 Ways the Settlement Impacts Home Sellers
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There are two proposed rule changes that are part of the settlement. NAR has agreed to put in place a new rule prohibiting offers of compensation on the MLS. Brokers and agents will have to negotiate compensation directly with their client. Additionally, NAR will require agents to enter into written buyer agreements with their buyers before touring a home. Click HERE for a link to the key points of the settlements and new policies for MLS subscribers.
Subject to the court’s approval, the deadline for MLSs to implement the required rule changes is August 17, 2024.
According to NAR rules under which we must operate, being a REALTOR means joining the national, state, and local associations. REALTOR® means member of the National Association of REALTORS®. Therefore, all REALTORS® belong to the National Association of REALTORS® and agree to abide by our Code of Ethics. In order to maintain REALTOR® membership, members must pay local, state, and national association dues and assessments. There is no ability to bifurcate membership between local, state, or national associations.
HAR dues will remain unchanged as they have for the last 20 years. When it comes to NAR dues, NAR says its dues will not go up in 2024 and 2025 because of the payment that is being made as part of the settlement.
Yes. Offers of compensation can continue to be an option consumers can pursue off-MLS through negotiation and consultation with real estate professionals. According to NAR, listing brokers could display an offer of compensation to a buyer agent on their own website or on social media. However, sellers can still offer buyer concessions (i.e. buyer closing costs) on the MLS.
Offers of compensation cannot be displayed in ShowingSmart since it is affiliated with HRIS.
Under NAR’s proposed rule changes, offers of compensation cannot be communicated through the MLS.
No. That would not be allowed as that is still an offer of compensation being made through the MLS.
Only if it is outside the MLS.
The types of compensation available for buyer brokers would continue to take multiple forms, depending on broker-consumer negotiations, including but not limited to:-Fixed-fee commission paid directly by consumers

-Concession from the seller

-Portion of the listing broker’s compensation

Yes. Compensation is currently negotiable and will continue to be negotiable. Compensation should always be negotiated between agents and the consumers they serve.
This settlement would preserve the choices consumers have regarding real estate services and compensation.

-After the new rule goes into effect, listing brokers and sellers could continue to offer compensation for buyer broker services, but such offers could not be communicated via the MLS. The settlement expressly provides that sellers may communicate seller concessions — such as buyer closing costs — via the MLS provided that such concessions are not conditioned on the use of or payment to a buyer broker.

  • -MLS participants working on behalf of buyers would be required to enter into written agreements with their buyers before touring a home. These agreements can help consumers understand exactly what services and value will be provided, and for how much.

After the new rule goes into effect, listing agreements should be amended to reflect that offers of compensation cannot be communicated via the MLS. The settlement expressly provides that sellers may communicate seller concessions — such as buyer closing costs — via the MLS provided that such concessions are not conditioned on the use of or payment to a buyer broker.

  • -MLS participants working on behalf of buyers would be required to enter into written agreements with their buyers before touring a home. These agreements can help consumers understand exactly what services and value will be provided, and for how much.

The practice changes will go into effect in mid-July 2024. Note the settlement is subject to court approval.
Texas REALTORS® is reviewing existing forms and has created a task force to gather member input on the potential need for new or revised forms. Texas REALTORS® is particularly focused on client representation and broker compensation to ensure those issues are addressed in the forms in a way that meets the needs of Texas REALTORS® members and their clients going forward.

  • NAR recently submitted a letter to the Department of Veterans Affairs (VA) urging them to revise its policies pertaining to fees veterans cannot pay when using their VA home loan benefit.
  • NAR specifically calls on the VA to allow their buyers to compensate their representative directly, which is currently prohibited under their policies. The letter stresses the importance of professional representation for veterans in the purchasing process and outlines the potential consequences for VA buyers in situations where compensation is not offered from a seller.

We are awaiting further clarification. We will update you as soon as we get more information.
We are awaiting more information from NAR regarding how the settlement will impact leases.
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 (for example—concessions for buyer closing costs).
Yes. It is a contract, so it is enforceable.
Bonuses will not be able to be expressed in the MLS based on the terms of this settlement.
No because there will be no information in the feed to display.
HAR is offering a Value Propositions for REALTOR® class each month to help our members present themselves in the best way possible. We will incorporate any required changes into our contracts classes, as well as any others that are appropriate. Once we know more, if it warrants having a dedicated class, we will certainly offer that as well. Also, look for other supporting materials and webinars to answer questions going forward. You may visit www.har.com/edu for more course information or to register today.
You can find more information as well as FAQs on NAR’s website.
The DOJ investigation is a completely separate legal process from the proposed settlement, so it would have no impact on it. What it does mean is that there could still be practice changes down the road as a result of the DOJ investigation. However, there is a chance that the DOJ could oppose or concur with the current settlement depending on what it files, if anything, with the court that will ultimately approve the settlement or not.

HAR Resources

NAR Settlement Fact Sheet
Access facts about the NAR settlement and how it will impact HAR members/subscribers as well as home buyers and sellers HERE.

Houston Housing Reports
The HAR Newsroom is the go-to source for news and information about the real estate market. Access weekly, monthly and quarterly housing reports published by HAR HERE.

Press Releases
Access all press releases issued by the HAR Communications Department HERE.
Click here to share the Reality of Real Estate
with your clients with your branding.