NAR Settlement Changes: A Quick Guide for Florida Realtors

The National Association of Realtors (NAR) Settlement is set to take effect later this summer, bringing changes that will reshape operations in the real estate market. To ensure smooth service without interruptions, Florida realtors must update their practices and documentation accordingly. 

Here are some key dates to mark on your calendar: 

  1. June 18th – NAR Settlement opt in Deadline 
  • MLS’s must opt into the NAR settlement by completing the required appendices by June 18th. 
  1. August 17th – Implementation of New Rules 
  • Due to the NAR settlement, offers of compensation will no longer be displayed on the MLS (Multiple Listing Service). Written representation agreements between MLS participants and buyers will soon be required (mid-July), ensuring that all interactions are formally documented.  

What do these changes mean for Florida realtors? 

This means Florida realtors will need to directly manage and negotiate compensation with their own clients and the other party. To help with this process, Florida Realtors is introducing new buyer compensation forms. These forms will be available mid-June and are designed to clearly outline and agree on the compensation arrangements between realtors and their buyer clients. 

What the NAR settlement will not effect: 

  • The type of relationship you have with a potential buyer (like being their agent, not being their agent, being their exclusive agent, or working with them in other ways). 
  • How long your agreement lasts (like one day, one month, for one house, or for a specific area). 
  • The services you provide (like doing basic tasks, showing a certain number of houses, helping with negotiations, or presenting offers). 
  • The type or amount of payment you charge (like no fee, a flat fee, a percentage, or an hourly rate). 

At Venture Title Services we understand the implications of the NAR settlement changes and their impact on the real estate landscape. As these changes begin to take effect, we’re here to help our local realtors navigate these shifts and support them through every transaction. 

For more detailed information, please refer to the official announcements from NAR.  

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