Understanding the NAR Lawsuit Settlement

What You Need to Know

In March 2024, in response to a pending lawsuit judgment against them, the National Association of Realtors® released a set of proposed policy and practice changes that will reframe the relationship between real estate professionals and buyers. To be clear, the industry’s fiduciary commitment to the best interests of clients hasn’t changed, but the way agents and buyer clients formalize professional relationships will.

Changes to the Homebuying Experience

As a homebuyer, this proposed settlement means there will be some changes to your real estate experience:

1. Required Buyer Agreements

Prior to this settlement proposal, it was acceptable (though not widely practiced) for buyer’s agents to forge relatively informal, unwritten agreements with their clients regarding service. Following these proposed changes, buyers must sign a service agreement with a real estate professional in order to be shown homes. 
View Our Buyer Agreement

2. Buyer’s Agent Compensation

Prior to the proposed changes in the settlement, buyer’s agents were compensated via a cooperation agreement with the seller and seller’s agent facilitated by the multiple listing service. While this sort of cooperation is still allowed, the MLS is no longer allowed to coordinate it. Buyer’s agents will now be responsible for negotiating their own compensation with clients. 

How I Work with Buyers

As my client, you can expect nothing but the highest level of service and counsel. I take my fiduciary commitment to you extremely seriously and believe that the best way to advocate for your best interests is through preparation. For each property my clients consider, I create a complete set of market research, potential pricing and offer strategies, contract negotiation tactics, and more. 

Before the NAR lawsuit settlement proposal, some buyer’s agents were able to get away with doing the bare minimum. Thanks to assumed cooperation with the seller, they might get paid for simply showing up, unlocking doors, and pushing papers. 
WHAT OUR CLIENTS SAY

I have had the pleasure of working with Trish for over 10 years. I have purchased many houses from her, she is a fantastic realtor in every sense. She is always great with communication, very organized, and truly a pleasure to work with. I highly recommend it!

— Rob F.

WHAT OUR CLIENTS SAY

Trish, Jeff, and their team were great. They helped me sell my father’s house fast and over the asking price. They made the process effortless for me and were there for me throughout the entire process.

— Eric O.

WHAT OUR CLIENTS SAY

Trish and her team are experienced, and helpful, and work hard to make the transaction happen without drama.

— Michael B.

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Deciding to purchase a home is the largest financial commitment most people will ever make. I have the skills, experience, and connections to help you and your family take the next step in your homeownership journey. Let’s connect today; I’m ready to help.

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Carter Company Realtors

(813) 661-4700

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3620 Erindale Dr
Valrico FL 33596