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Monthly News & Updates

April 2024

NAR Settlement Resources

A central resource for updates and materials about NAR’s steadfast commitment to strengthen the association, defend REALTORS® and their immense value, and look to the future.



The National Association of REALTORS® (NAR) does not set commissions – they are negotiable. The rule that has been the subject of litigation requires only that listing brokers communicate an offer of compensation. That offer can be any amount, including zero. And other rules throughout the MLS Handbook and NAR policy expressly prohibit MLSs, associations, and brokers from setting or suggesting any such amount that should be included in that field. The text of the current rule is linked here and excerpted below, the text of our MLS Antitrust Compliance Policy is linked here and excerpted below, and a notice included in NAR’s MLS Handbook is below.

 

Again, the current rule that has been the subject of litigation does not set commissions.  

 

As reflected in our release about the proposed settlement agreement, NAR has agreed to put in place a new MLS rule prohibiting offers of broker compensation on the MLS. Commissions remain negotiable, as they have been.

 

Excerpt from Handbook on Multiple Listing Policy – Commission/Cooperative Compensation Offers, Section 1: Information Specifying the Compensation on Each Listing Filed with a Multiple Listing Service of an Association of REALTORS®

 

In filing property with the multiple listing service, participants make blanket unilateral offers of compensation to the other MLS participants and shall therefore specify on each listing filed with the service the compensation being offered by the listing broker to the other MLS participants. This is necessary because cooperating participants have the right to know what their compensation will be prior to commencing their efforts to sell.

 

The listing broker retains the right to determine the amount of compensation offered to subagents, buyer agents, or to brokers acting in other agency or nonagency capacities, which may be the same or different.

 

Excerpt from Handbook on Multiple Listing Policy – MLS Antitrust Compliance Policy 

 

The purpose of multiple listing is the orderly correlation and dissemination of listing information to participants so they may better serve the buying and selling public. Boards and associations of REALTORS® and their multiple listing services shall not enact or enforce any rule which restricts, limits, or interferes with participants in their relations with each other, in their broker/client relationships, or in the conduct of their business in the following areas.

 

Boards and associations of REALTORS® and their MLSs shall not:

 

  1. Fix, control, recommend, or suggest the commissions or fees charged for real estate brokerage services (Interpretation 14).
  2. Fix, control, recommend, or suggest the cooperative compensation offered by listing brokers to potential cooperating brokers.

 

Excerpt from Handbook on Multiple Listing Policy – Notice to Association Members

 

Under the long-established policy of this association, the (state) association of REALTORS®, and the National Association of REALTORS®:

 

  1. The broker’s compensation for services rendered in respect to any listing is solely a matter of negotiation between the broker and his or her client, and is not fixed, controlled, recommended, or maintained by any persons not a party to the listing agreement.
  2. The compensation paid by a listing broker to a cooperating broker in respect to any listing is established by the listing broker and is not fixed, controlled, recommended, or maintained by any persons other than the lister broker. (Amended 4/92).


Watch Video
Visit NAR: The Facts for REALTORS
Visit NAR: competition.realtor

Additional Resources:


Throughout 2024, NAR is making the popular Accredited Buyer’s Representative (ABR®) designation course, typically $295, available to REALTORS® at no cost. Take the first step toward earning your ABR® designation at become.abr.realtor.



Earn the ABR Designation

Visit ThatsWhoWeR.realtor to view the new consumer campaign ads, and to leverage turnkey advertising and social assets to share. The campaign demonstrates the expertise of REALTORS® helping their clients navigate the risks, pitfalls, and complexities of buying or selling a home or property, reinforcing their expertise, commitment and consumer-first approach.

Visit ThatsWhoWeR.realtor

TREPAC Supported City Candidates

AUSTIN—The Greater Lewisville Association of REALTORS is proud to jointly support a local slate of candidates running for office in the May 2024 elections alongside Texas REALTORS® and TREPAC.



For more information about candidates receiving TREPAC support, visit www.texasrealtorssupport.com.


Lewisville Mayor: TJ Gilmore

Lewisville City Council: William Meredith


Flower Mound Mayor: Derek France

Flower Mound Council: Robert Rawson


LISD Place 1: Allison Lassahn



About the Texas Association of REALTORS® Political Action Committee (TREPAC)

For more than fifty years, Texas REALTORS® Political Action Committee (TREPAC) has provided a powerful voice to protect the needs of real estate professionals and property owners. TREPAC is a voluntary, nonprofit organization. The voluntary investments received go toward supporting issues that directly affect Texas property owners. TREPAC specifically uses these voluntary investments to help elect local and state public officials with a record of preserving private property rights and keeping homeownership affordable in Texas. As a political action committee, TREPAC complies with all state and federal campaign contribution laws.


About Texas REALTORS®

With more than 150,000 members, Texas REALTORS® is one of the largest not-for-profit professional membership associations in Texas. The association represents Texas REALTORS® involved in all aspects of real estate and advocates on behalf of the real estate industry and private property owners. For more information, visit www.texasrealestate.com.




MARK YOUR CALENDARS!

On Monday, April 8, 2024, Dallas-Fort Worth will experience this stunning phenomenon, and you can see it firsthand. This event won’t occur again for at least 200 years, so don’t miss the opportunity to witness one of nature’s most beautiful celestial shows. Don’t let this once-in-a-lifetime event slip away! 

Visit Total Eclipse DFW

The May elections are around the corner! Have your registered to vote?


Deadline to register is April 4th


Register to vote!

Your copy should address 3 key questions: Who am I writing for (audience)? Why should they care (benefit)? What do I want them to do (call-to-action)?


Create a great offer by adding words like "free," "personalized," "complimentary," or "customized." A sense of urgency often helps readers take action, so consider inserting phrases like "for a limited time only" or "only 7 remaining!"

TREPAC Supported Candidates
Register Here

Join us April 18th, 2024

March Recap!

GLAR sponsored the Asian Real Estate Association of America DFW chapter Installation. We're always looking for new ways to collaborate with our multicultural organizations.

The Government Affairs committee had a busy first quarter.


They hosted candidate interview for the local city and school board elections.


Hosted a call bank for our TREPAC supported candidates, before and after early voting.


Interested in learning more about Government Affairs? Contact Chair, Brent Myers.

The Young Professionals Network hosted a panel discussion with NAR YPN Advisory Board member, Emily Bibby; Justus Carlile, GLAR President; and Kelle Fraser, Director of Fraser Real Estate Marketing.

Moderator, Chase Pierson; asked the panel about how their life experience and different paths that have led them on their career and leadership journeys.

We hosted our first Brokers Lunch on March 7th.


Discussion centered around the membership, MLS updates, state and national legislative updates.


Save the Date for September, 5th at 11:30am!

MLS Updates

Restb.ai coming to NTREIS


We have put a news message on the SSO dashboard regarding the availability of AI photo tagging and descriptions which will go live on April 3rd. 


WHAT TO KNOW:

 

The Photo Caption box will be visible in Matrix on April 3. The caption will be required on each new photo added to a listing and will automatically be selected by Restb.ai from the drop-down list of Image names. If the photo is half kitchen and half dining room, then only one room name will show and you have the option to keep or change the caption. The photo description can either be generated automatically by Restb.ai or the box can be unchecked and each description added manually.

 

This is for ADA website compliance for those with visual impairments using screen readers to "hear" what you are sharing in the photos.

 

WHAT TO DO:

 

  • Since we are NOT backfilling existing listings, no action need be communicated for reviewing your existing photos. 
  • For new listings entered on & after April 3rd, users will want to review all generated photo captions & descriptions, update as needed then click Certify and Save.
  • Please report discrepancies or inaccurate tags/descriptions as that helps the product learn and become better



See what the full features will look like when adding a listing based on photo detection becomes available:

Watch video here!

In the Know!

The Safety Series: Be Aware of Physical Hazards Inside Aging Homes




Listen here!

NAR Mobile App

Deals close fast so make sure you have valuable real estate industry facts at your fingertips. The NAR Mobile App gives you full access to everything you need—anytime you want.

Download the App

Share This!

3 Ways to Maximize the Value of your Real Estate Agent!


Primary tips on how to work with a real estate agent. This graphic outlines the choices in commission models, and explains valuable roles agents play in helping buyers manage transactions.



Download Flyer

GUIDE TO BROKER COMMISSIONS

IN REAL ESTATE TRANSACTIONS


Many people hire a real estate professional to

represent them through the complicated process

of buying or selling a home. This guide will help you

understand how real estate brokers get paid.

Download Flyer

Education

Zoom and Hybrid Courses available at GLAR

Register for classes here!

RPR: What do you want to learn today?

Everyone has different learning styles. Some want to watch a quick video, others want to print out a guide and read every detail, step-by-step. Well, we’ve got you covered.



The RPR Learning Center lets you choose how and what you want to brush up on when it comes to RPR features and capabilities. Choose by time, skill level, topics and learning type:


Visit RPR Webinars
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Education on your time!


Visit on our online education portal with The CE Shop!


Visit our Website
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Register for the classes above via the member portal!



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