Fellow members,
I recently sat down with Real Estate Insiders Unfiltered to discuss the future of NAR and the recently announcement settlement agreement. The episode was published today, and I hope you will all take some time to listen. The podcast can be viewed here.
Thank you, as always, for the work you do to support your clients, and for your continued support of our organization.
Regards,
Kevin
Fellow members,
I want to share with you all an article that was published in REALTOR® Magazine that speaks to the truth and facts of the settlement agreement. The article provides information on who is covered, the changing business practices, and shares additional resources for members. You can read the article on our website and I hope it will help everyone better understanding the settlement agreement.
We have also prepared a Settlement Agreement Facts Toolkit, available on facts.realtor, which you can navigate directly to here. The toolkit provides assets and content that you can easily share through social media. By sharing these assets we can address misinformation in the industry and ensure NAR’s perspective is heard loud and clear.
Please continue to check facts.realtor for the latest resources for our members. If you’d like to direct people to information about the settlement, please continue to invite them to visit competition.realtor.
Thank you, as always, for your continued support.
Regards,
Kevin
Fellow members,
I’m reaching out to let you know that NAR Chief Legal Officer Katie Johnson and I recorded a webinar on Friday where we further discussed the settlement agreement and what it means for both the association and its members. Today, we have posted it to facts.realtor, and you can navigate directly to it here.
Please note that facts.realtor has additional materials to support you, including:
Please continue to check facts.realtor for the latest resources for our members. If you’d like to direct people to information about the settlement, please continue to invite them to visit competition.realtor.
Before closing, I’d like to reiterate a sentiment I shared in my on the road video last week. I am deeply grateful for our community of REALTORS®. The outpouring of support the Leadership Team and I have received over the past few days fills me with optimism for our association and our industry. I urge you all to continue to be an advocate for NAR and our industry, and we are working hard to ensure you have the tools you need to do so.
Thank you, as always, for your continued support.
Regards,
Kevin Sears
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ADDITIONAL RESOURCES
Throughout 2024, NAR is making the popular Accredited Buyer’s Representative (ABR®) designation course, typically $295, available to REALTORS® at no cost. Take the first step toward earning your ABR® designation at become.abr.realtor.
NAR members can continue to access the latest information and FAQs about the settlement on facts.realtor.
NAR will also continue to provide updates about the settlement process as it unfolds on competition.realtor.
Visit ThatsWhoWeR.realtor to view the new consumer campaign ads, and to leverage turnkey advertising and social assets to share. The campaign demonstrates the expertise of REALTORS® helping their clients navigate the risks, pitfalls, and complexities of buying or selling a home or property, reinforcing their expertise, commitment and consumer-first approach.
Kevin Sears: Discussing Key Settlement Considerations and Ongoing Advocacy Efforts On the Road | March 21, 2024
NAR President Kevin Sears shares an update on the association’s settlement agreement to resolve home seller litigation and highlights NAR’s ongoing work to advocate for members and consumers.
Watch this video from Kevin Sears.
Litigation Update | March 15, 2024
NAR President Kevin Sears and Chief Legal Officer Katie Johnson discuss how NAR’s resolution provides a path forward for the industry and helps ensure consumer choice.
Watch the NAR Litigation Update video.
We understand that the recent news of the NAR settlement proposal has sparked discussions and questions within our industry. The leadership at WCAR wants to assure you that we are actively monitoring the situation and working to provide support and guidance to our members, clients, and the protection of private property rights in Williamson County.
Upon receiving the details of the NAR settlement proposal on Friday, similar to you, we immediately began assessing its potential impact and how we can best navigate these changes together. It's crucial to note that this is a proposed settlement subject to court approval, a process that may take several months. During this time, we will stay informed, prepare for what we know, and remain adaptable to future developments.
As we move forward, we encourage you to focus on understanding the facts and preparing for the future. While changes are on the horizon, there are opportunities for our industry to flourish. Here are actionable steps you can take now:
At WCAR, we are committed to ensuring our members are well-informed, supported, and empowered during this period of change. Here's how we're assisting you:
As we navigate these developments surrounding the NAR settlement proposal, I want to remind you that the settlement process is subject to court approval, which could take several months. In the meantime, we are actively strategizing on how to best support you through these changes. Our leadership is dedicated to your success. As real estate professionals, we excel in adapting to market shifts, meeting client needs, and adhering to industry regulations. WCAR is fully committed to equipping our members with the necessary tools and training to navigate these proposed changes effectively.
Ultimately, this settlement presents us with another opportunity to showcase our resilience and thrive in a changing landscape.
Thank you for your continued trust and membership.
Warm regards,
Brandi Thigpen
2024 President of WCAR
Dear WCAR Members,
We are reaching out to inform you of a significant update from the National Association of Realtors (NAR) regarding an agreement made to resolve the Home Seller Class Action Lawsuits. The proposed settlements encompass two major changes that will impact our members, and it's important for you to be aware of them. Keep in mind that these changes are still subject to approval by the court.
1. Firstly, NAR has agreed to implement a new rule that prohibits offers of compensation on the MLS. This change is scheduled to take effect in mid-July 2024.
2. Additionally, as part of the settlement, MLS participants working with buyers will be required to enter into written representation agreements with those buyers. This change will also go into effect in mid-July 2024.
As your trusted Board, we are dedicated to keeping you informed and offering educational resources to support you, our valued member, during this proposed change.
If you have questions about what's next and how things will change, visit NAR's central resource for updates on strengthening the association, defending REALTORS®, and future plans. The NAR settlement fact sheet may be accessed below:
Click the link below to hear from President Kevin Sears and Chief Legal Officer Katie Johnson on how the National Association of REALTORS’® resolution provides a path forward for the industry and helps ensure consumer choice.
