Chicago, Aug. 16, 2024 (GLOBE NEWSWIRE) -- Today, the National Association of Realtors® provides a final reminder to members, real estate professionals, and consumers that on August 17, 2024, the practice changes following NAR's Proposed Settlement Agreement that would resolve claims brought on behalf of home sellers related to broker commissions will be implemented across the country.REALTOR® MLSs (those owned exclusively by one or more REALTOR® Associations) must implement the changes by August 17, 2024, to remain in compliance with NAR policy.As a reminder, under the settlement, the following practice changes will take effect:
Offers of compensation will be prohibited on Multiple Listing Services (MLSs). Offers of compensation will continue to be an option consumers can pursue off-MLS through negotiation and consultation with real estate professionals.
