NAR Settlement Fact Sheet

NAR and plaintiffs have reached a proposed settlement agreement that would end litigation of claims brought on behalf of home sellers related to broker commissions.

The agreement would resolve claims against NAR, over one million NAR members, all state/territorial and local REALTOR® associations, all association-owned Multiple Listing Services (MLSs), and all brokerages with an NAR member as principal that had a residential transaction volume in 2022 of $2 billion or below. The settlement is subject to court approval.

This settlement agreement will bring changes to our industry. It also preserves Americans’ choices when it comes to real estate services when buying or selling a home. Learn the facts through the resources below.

Learn the Facts
Message from NAR President
Press Release
Settlement FAQs

Ethics, Expertise and Education

The REALTOR® difference at work for you.

Find a REALTOR®
REALTORS® are committed to a Code of Ethics
When you work with a REALTOR® you work with a professional committed to safeguarding the rights of home buyers and sellers.
REALTORS® are involved in the local community
REALTORS® are deeply involved in the community and volunteer at more than twice the rate of the general population.
REALTORS® participate in advanced training
REALTORS® continue their education through member-only resources and exclusive tools that help them better serve their clients.
REALTORS® advocate for private property rights
Through local, state and national advocacy efforts, REALTORS® seek to preserve, protect and advance property rights for all.
REALTORS® fight for fair housing
REALTORS® adhere to a standard that requires equal professional service, because all properties should be open and feel welcome to all.
REALTORS® are committed to a Code of Ethics
When you work with a REALTOR® you work with a professional committed to safeguarding the rights of home buyers and sellers.
REALTORS® are involved in the local community
REALTORS® are deeply involved in the community and volunteer at more than twice the rate of the general population.
REALTORS® participate in advanced training
REALTORS® continue their education through member-only resources and exclusive tools that help them better serve their clients.
REALTORS® advocate for private property rights
Through local, state and national advocacy efforts, REALTORS® seek to preserve, protect and advance property rights for all.
REALTORS® fight for fair housing
REALTORS® adhere to a standard that requires equal professional service, because all properties should be open and feel welcome to all.
REALTORS® are committed to a Code of Ethics
When you work with a REALTOR® you work with a professional committed to safeguarding the rights of home buyers and sellers.
REALTORS® are involved in the local community
REALTORS® are deeply involved in the community and volunteer at more than twice the rate of the general population.
REALTORS® participate in advanced training
REALTORS® continue their education through member-only resources and exclusive tools that help them better serve their clients.
REALTORS® advocate for private property rights
Through local, state and national advocacy efforts, REALTORS® seek to preserve, protect and advance property rights for all.
REALTORS® fight for fair housing
REALTORS® adhere to a standard that requires equal professional service, because all properties should be open and feel welcome to all.
REALTORS® are committed to a Code of Ethics
When you work with a REALTOR® you work with a professional committed to safeguarding the rights of home buyers and sellers.
REALTORS® are involved in the local community
REALTORS® are deeply involved in the community and volunteer at more than twice the rate of the general population.
REALTORS® participate in advanced training
REALTORS® continue their education through member-only resources and exclusive tools that help them better serve their clients.
REALTORS® advocate for private property rights
Through local, state and national advocacy efforts, REALTORS® seek to preserve, protect and advance property rights for all.
REALTORS® fight for fair housing
REALTORS® adhere to a standard that requires equal professional service, because all properties should be open and feel welcome to all.
REALTORS® are committed to a Code of Ethics
When you work with a REALTOR® you work with a professional committed to safeguarding the rights of home buyers and sellers.
REALTORS® are involved in the local community
REALTORS® are deeply involved in the community and volunteer at more than twice the rate of the general population.
REALTORS® participate in advanced training
REALTORS® continue their education through member-only resources and exclusive tools that help them better serve their clients.
REALTORS® advocate for private property rights
Through local, state and national advocacy efforts, REALTORS® seek to preserve, protect and advance property rights for all.
REALTORS® fight for fair housing
REALTORS® adhere to a standard that requires equal professional service, because all properties should be open and feel welcome to all.

Your Advocate

The internet is a valuable tool, but it can’t replace the essential services provided by REALTORS®.  A real estate transaction isn’t as simple as clicking a button online, like buying a plane ticket.

Most Americans choose to work with a real estate professional when buying or selling a home, not out of requirement, but for the invaluable assistance in navigating the challenges of the process. No amount of online browsing can substitute for having a professional by your side during what can be a complex, unfamiliar, and lengthy process.

Below are some of the things REALTORS® assist with, in order to help sellers walk away having sold at a competitive price – or buyers getting the keys to their dream home.

Buyers

Roughly 9 in 10 buyers work with a real estate agent who helps negotiate the best price & terms.
Learn more
  • Educate client on home buying process and coordinate a plan.
  • Review buyer rep agreement, agree upon representation and negotiate compensation.
  • Understand budget and explain what will be needed financially.
  • Search local MLS broker market- places to find best matches.
  • Serve as local housing market expert (e.g., price trends, negotiation trends, community).
  • Arrange tours of homes and neighborhoods
  • Decipher public property and tax information.
  • Research home information that aligns with buyers’ interests.
  • Prepare buyer to have the most attractive offer in the current marketplace.
  • Coordinate professional
    home inspections, consultations with lenders and necessary property assessments.
  • Develop competitive offers and negotiate the best price and terms.
  • Represent clients’ best interests, advise throughout the negotiation process and close the deal.
  • Steward multiple parties and schedules to save buyer time.
  • Look beyond décor, flooring and paint colors to other significant aspects of home.
  • Navigate state and federal forms.
  • Research mortgage rates, terms and reputable lenders.
  • Coordinate with lenders.
  • Steward important contract deadlines.
  • Provide guidance for walk throughs prior to closing to ensure property condition.
  • Work with necessary parties to ensure all contractual terms are completed by closing.
  • Advocate for buyer throughout entire process and closing.
  • Review buyer’s closing statement to ensure accuracy.
  • Provide information for everything needed to live in new home.
  • Ensure all required actions are complete in advance, so closing day is a celebration, rather than a stressor.
  • Remain a lifelong, trusted advisor!

Sellers

Without a REALTOR®, For Sale By Owner homes sell for about 26% less than agented properties
Learn more
  • Research sales activity for past 18 months from local broker marketplaces and public records databases.
  • Guide on best market pricing position based on current market.
  • Perform exterior curb appeal assessment.
  • Address important topics such as odors, clutter, cleanliness, décor neutralization and more.
  • Create detailed list of property amenities.
  • Develop and execute marketing plan.
  • Coordinate showings with seller and other agents.
  • Pull data to compare offers.
  • Create plan for pricing strategies accounting for local market conditions.
  • Promptly enter price changes on local broker marketplace listing database.
  • Prepare contract for buyer.
  • Communicate weekly with activity, showings of homes that compete and market movement.
  • Follow up with each buyer and agent with timeliness and kindness.
  • Have a strong market reputation where agents want to show your home.
  • Continue to audit the home to make sure it’s market ready.
  • Negotiate all offers.
  • Help coordinate and review appraisal.
  • Audit itemized list of all cost components seller and buyer are to pay.
  • Protect trust/earnest money through process.
  • Ensure transaction is flowing to avoid unexpected complications.
  • Ensure smooth transition with utilities, final walk throughs, inspection repairs and other tasks.
  • Coordinate closing process with buyer’s agent, lender and closing company.
  • Explain technicalities in the final contract.
How to Maximize the Value of your REALTOR®

Worth Every Penny

Here is a look at all things – big and small – that an agent who is a REALTOR may do to help clients when buying and selling a home.

Why Hire a REALTOR®
Click image to view in English
Click image to view in Spanish