By Summer Goralik
September 26, 2024
I had the opportunity to speak at the California Association of Realtors' (CAR) annual REimagine conference today. It was a fantastic event that provided a valuable chance to connect with many Realtors. One thing was clear: there are still many questions surrounding the National Association of Realtors' (NAR) proposed settlement, particularly regarding how to continue doing their jobs effectively and in compliance with the new rules.
Speaking of questions, for the last several weeks, I’ve been writing a weekly column for Inman called "Ask a Compliance Expert," where I address important questions posed by their readers. If you're interested (and a subscriber to Inman), please check out the links to those pieces below.
While I don’t have all the answers, I know one thing for certain: it’s crucial to be well-versed and confident in the new practice rules. One of the most important steps Realtors and real estate licensees should take right now is educating themselves and staying up to date.
This means drawing from a variety of sources on key topics, including commission litigation (both pending and new), the United States Department of Justice’s (DOJ) stance on decoupling commissions, and guidance from NAR, as well as state and local associations, on the practice changes.
Why is this so critical? Because the narrative around these issues is not static. In fact, there are competing narratives that licensees need to stay aware of in order to remain knowledgeable, make informed decisions, and implement effective risk management.
Stay tuned and vigilant!
Inman: Ask a Compliance Expert
"Brokers, you're accountable for your agents' behavior"
"Will agents actually call you back?"
"Why are some agents still flirting with cooperative compensation?"
"How can I really be sure that the sellers will pay the buyer's agent (me)?"
"How are these new commission rules improving transparency?"
"Can I say 'call for buyer's agent compensation' in private remarks?"
"I'm a listing agent. Do I need buyer agreement proof before showing?"
https://www.inman.com/2024/08/27/im-a-listing-agent-do-i-need-buyer-agreement-proof-before-showings/
"Are we allowed to let clients know about concessions upfront?"
"Is it possible to market a seller wanting to offer a concession?"
Additional Q&As here: "Got commission questions? This compliance expert has answers"
#inman #inmannews #NAR #commission #compliance #realestatecompliance #realestatebroker #realestateagent #consultant