The NVAR Board of Directors has approved new forms changes, as proposed by the NVAR Standard Forms Committee and drafted after months of outreach to and feedback from NVAR members, affiliates, attorneys, brokers, and Strategic Partners. The changes will be effective July 1, 2024.
As a reminder, the practice changes from the NAR Settlement Agreement go into effect by August 17, 2024. The Standard Forms updates reflect not only requirements pursuant to the Settlement, but also anticipate how the real estate industry is likely to evolve. Although certain compensation models, such as cooperative compensation, may still be available for Realtors® after August 2024, the updates outlined below provide the most transparency to Realtors® and consumers alike and pave the way for the most efficient transactions in our competitive marketplace. For more information about the NAR Settlement, please visit The Facts for REALTORS® (nar.realtor) and view Top 10 Highlights from the NAR Proposed Settlement – Practice Changes (nvar.com).
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