NAR Settlement Resources & Changes

June 28, 2024
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LAST UPDATED 4/16/25:  Adding several NAR Consumer & REALTOR Guides as they are released.
The NAR settlement goes into effect August 17th, but REALTORS should prepare in advance to ensure you are adhering to the settlement terms by 8/17.   Please revisit this page regularly as updates will be added as swiftly as we receive them.  
DISCLAIMER: The information below is the best we have at present but may change as updates are received from NAR or WRA.  Please contact your attorney for qualified legal guidance, or contact WRA Legal Hotline with questions.  

 

ACTION ITEMS (Implement by Aug 17 or as noted):  

  • Revised & New Forms now available in zipForms and WRA Forms Library - 8/15 mandatory use date for updated WB forms 
    • CLICK HERE for summary of form updates & video walkthroughs of form & practice changes (WRA login req'd)
  • Revoke standing policy letters and/or blanket compensation agreements since as of 8/17, sellers must agree in writing prior to any offers of compensation made to cooperating firms
  • Existing listing contracts or buyer agency agreements (using pre-July 1st optional use date WB forms) should be provided the Compensation Disclosure for Wisconsin Agency Agreements (WRA-CD) to comply with settlement terms
    • Amendment IS needed however if language in existing LCs includes language requiring offers of compensation in MLS or BA agreements stating "MLS offer of compensation" or "whatever listing firm is offering"
    • Watch: https://www.youtube.com/watch?v=MHNqyaX65fc
  • Plan ahead for the removal on 8/15 of all commission/compensation fields from GNMLS
    • See NAR Settlement FAQs for guidance regarding Offers of Compensation, Listing or Buyer Agreements, Concessions, etc
    • Agents do not need to delete the data in those fields for current listings listing since these fields will be removed entirely.
    • Concessions can still be offered by seller directly to buyer, but Concession fields in MLSs may not be used to communicate offers of compensation nor conditioned upon payment to buyer's agent or firm
    • NO workarounds permitted within any MLS fields including (but not limited to) remarks, photos, supporting docs, hyperlinks, etc - nor any MLS faculties (eg: SentriLock, ShowingTime, etc)
    • Remove any compensation/commission info from locations where it is commingled with data received from GNMLS, with the following points of clarification:
      • Firms or agents may create a webpage or list, social media posts, and/or signage providing details of compensation offers for your firm's listings
      • NAR Settlement FAQ #42:
        "42. Can a listing broker communicate offers of compensation on a broker website which has an IDX or VOW feed?"
        Yes, MLS Participants may augment MLS data or data feeds with offers of compensation to buyer brokers or other buyer representatives for only listings of their own brokerage.
      • NAR Settlement FAQ #43:
        "43. Can an MLS Participant use or share their MLS data or data feeds to establish or maintain a platform for offers of compensation from multiple brokers and buyer brokers or other buyer representatives?"
        No, use of MLS data or data feeds to directly or indirectly establish or maintain a platform of offers of compensation from multiple brokers to buyer brokers or other buyer representatives is prohibited.
  • As of August 17, 2024, written agreements are required if you are "working with" a buyer prior to "touring a home" (read the link for clarification)
    • Summary video:  https://www.youtube.com/watch?v=sbZIihgJB5M
    • See All NAR Consumer Guides at:  https://www.nar.realtor/the-facts#Consumers
      • Written Buyer Agreements, Open Houses & Written Agreements, REALTORS' Duty to Put Client Interests Above Their Own, What Veterans Need to Know About Buying a Home, Offers of Compensation, Negotiating Written Buyer Agreements, Seller Concessions, Multiple Listing Services, Fair Housing, Listing Agreements, 10 Questions to Ask A Buyer's Agent, 10 Questions to Ask a Seller's Agent, Buying Your First Home, Mortgages and Financing, Steps Between Signing & Closing On a Home, Agency & Non-Agency Relationships, The Appraisal Process, Home Inspections, Homeowners Insurance, Flood Insurance, Fire Damage & Policy Coverage
    • WRA created a new Pre-Agency Showing Agreement (WRA-PASA in zipForm) that must be provided to potential buyers during pre-agency before touring a property - and you cannot "negotiate" during pre-agency
    • WRA created a new Disclosure to Customers (WRA-BDCU in zipForm) that must be provided to potential buyer customers prior to "negotiating"
    • Updated Buyer Agency Agreement (WB-36) required before providing client services as a buyer's agent
    • Read NAR FAQs #55-74 for more info about written buyer agreements
  • Review NAR Settlement FAQs and WRA Legal Hottips "Antitrust - Class-action Lawsuit" for add'l guidance on practice changes
  • Consumers with questions about class action notices they receive should be directed to https://www.realestatecommissionlitigation.com/

 

MORE RESOURCES:

NAR FACTS.REALTOR: Includes Settlement FAQs, Policy Changes, Timeline & Factsheet, Communication Toolkit & More

NAR SETTLEMENT FACTS VIDEOS

NAR "THE HUB" FORUM:  Real-time updates from NAR leadership

WRA ANTITRUST RESOURCES:  Updated 11/5/24 - Added "A Buyer's Guide to Written Buyer Agreements"

WRA LEGAL UPDATE LIBRARY

WRA LEGAL HOTTIPS

WRA 8/7 LEGAL UPDATE LIVE VIDEO: Watch video & click here to take exam and earn 1 hour free CE credit (for Course 6)

 

MLS Policy Changes:

  • ALL commission fields will be removed from GNMLS on 8/15.  After 8/16, nowhere within GNMLS nor any faculty of GNMLS may convey offers of compensation or commissions
    • Do NOT circumvent by including compensation/commission info in any MLS fields, listings photos, supporting docs, hyperlinks, etc
    • Do NOT use SentriLock, ShowingTime or any other GNMLS partner platforms to convey commission/compensation info
  • Commission info for your firm's listings may be shared on your brokerage website, but not on GNMLS-provided Xposure agent pages
    • Read NAR FAQs #27-46 (and particularly #42-43) for clarification re: Offers of Compensation
    • We are awaiting clarity from NAR, but at present we advise against commingling GNMLS-sourced listing data or listing detail pages in online locations other than for your own listings on your firm's website (per NAR FAQ #42)
  • Seller concessions to buyers are still allowed in GNMLS, but may not convey compensation/commission offers nor be predicated upon compensation to subagents or buyer’s agents
    • Concession field currently under consideration for possible removal by GNMLS Board of Directors
  • See NAR MLS Policy Change Summary (PDF)

 

Real Estate Forms:

  • Revised WB & New Forms now available in zipForms and WRA Forms Library:  8/15 mandatory use date (WB forms) 
    • CLICK HERE for summary of form updates & video walkthroughs of form & practice changes (WRA login req'd)
    • 18 revised WB forms including WB-1 Residential Listing Contract, WB-36 Buyer Agency Agreement, WB-11 Residential Offer to Purchase
    • Other new/updated forms:
      • Pre-Agency Showing Agreement (WRA-PASA)
      • Disclosure to Customers (WRA-BDCU)
      • Compensation Agreement (WRA-CA)
      • Compensation Disclosure for Wisconsin Agency Agreements (WRA-CD)

 

Cooperation & Co-Broke:

 

Seller Side:

 

Buyer Side: