National Lawsuit Updates
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, will take effect on August 17, 2024. Realtor® MLSs must implement the practice changes by that date.
Settlement-Related Standard Forms Changes
Changes are coming to some of the PAR Standard Forms as a result of the NAR settlement agreement. These changes will take effect on Aug. 1, 2024.
How to Prepare
- 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 are changing.
- Review the 2024 PAR Forms Update Comprehensive Guideline which explains the changes. It answers many frequently asked questions. Please review these guidelines thoroughly.
- Register to attend an upcoming Standard Forms Updates webinar.
- Review more resources like JustListed articles.
Resources
Visit facts.realtor for the latest updates on the proposed settlement and NAR Settlement FAQs for answers to some common questions.
PAR JustListed
- Reminder of Broker Compensation in Light of NAR Lawsuit
- Forms Changes 2024: I Hear There are Some Forms Changes?
- 2024 Forms Release Resources
PAR Webinars
NAR Newsroom