On Friday, March 15, 2024, NAR reached an agreement on their recent litigations. 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 agreement is still subject to court approval and the rule changes do not go into effect until July 2024.
We’ve compiled everything you need to know, including the impact to Chicago REALTORS®, on our NAR Settlement Resource page. Make sure to view the page for:
Resources to Talk to Your Clients About Your Value
Now, more than ever, it’s important that you can articulate your value to your clients. We compiled articles and infographics for you to easily share this information with your sphere.
Education to Keep You Ahead of the Curve
The REALTORS® Real Estate School is offering our Accredited Buyers Representative (ABR) Designation course for free throughout 2024 to continue to hone your skills in representing the needs of homebuyers. Then, make sure to check out the Seller Representative Specialist (SRS) Designation to reinvent the way you represent sellers.
Continued Updates on Settlement Impacts
We will continue to update you on the impacts of the settlement, the updates and additions to our forms and contracts library over the next few months and any new information we receive from MRED.