moorestown
Information not guaranteed. brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. the listing broker shall not be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data.
navigating changes with the nar settlement
Our brokers, team leaders and management team have prepared our agents with top-tier support and guidance to ensure that they are fully equipped to navigate the new changes with the NAR Settlement as it pertains to our industry, and our mission to help buyers and sellers achieve their real estate goals.
key takeaways
- Commissions have always been, and will continue to be negotiable.
- Keller Williams Cherry Hill, Marlton, Medford, Moorestown and Robbinsville offices has long required brokers to enter into written agency agreements.
- Previously, buyer agency agreements were required to be in writing and signed by the broker and client no later than the time of making an offer. This agreement must now be in place PRIOR to the agent showing a property to potential buyers.
NAR SETTLEMENT RESOURCES
- NAR Settlement FAQs
- The Truth About the NAR Settlement Agreement
- Settlement Facts Videos (less than 2 mins each)
- NAR Settlement: Get the Facts
- 7 Reasons to work with a REALTOR®
- Effective August 1st: Real Estate Consumer Protection Enhancement Act
- NJ REALTORS Broker Briefing Recording
The following are the 6 major changes the law provides and are all consistent with the terms of the NAR settlement:
- Sellers must provide a fully completed property condition disclosure form before buyers sign a contract.
- Listing agents will be required to explicitly disclose who they represent at open houses.
- Designated agency, which enables a brokerage to appoint an agent to either side of a transaction at the client’s request, is now permissible.
- All real estate licensees will be required to use brokerage agreements, which outline services they will provide to all clients over the course of a respective transaction.
- Sellers’ agents can no longer disclose compensation in Multiple Listing Services (MLSs) or notify MLSs about cooperative compensation.
- New CE requirement added on Agency is now required.
brightmls updates
- Effective August 14th: BrightMLS Rules and Policy on Rules Enforcement
- Sellers’ agents can no longer disclose cooperative compensation in MLS
- Client disclosure form required
- Seller Concessions may be disclosed when entering listing into MLSs
- “Coming Soon” listing no longer have 21 day limit
- Bright MLS will be removing the option of communicating any offer of compensation via the MLS on August 14th, while the National Association of REALTORS® (NAR) Settlement prohibits REALTORS® from communicating compensation via the MLS as of August 17th.
nexus updates
- Effective August 1st: Newly Revised NEXUS Listing Agreement
- Due to backlog, form is currently not available through Zipforms - in the meantime, please use the form above
- Click for the Updated Consumer Information Statement (CIS)
- Know these required rule changes to our profession
contact us for more information:
moorestown
Information not guaranteed. brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. the listing broker shall not be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data.