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Understanding the

NAR Lawsuit Settlement

What You Need to Know

In March 2024, in response to a pending lawsuit judgment against them, the National Association of Realtors® released a set of proposed policy and practice changes that will reframe the relationship between real estate professionals and buyers. To be clear, the industry’s fiduciary commitment to the best interests of clients hasn’t changed, but the way agents and buyer clients formalize professional relationships will.

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Changes to the Homebuying Experience

As a homebuyer, this proposed settlement means there will be some changes to your real estate experience:

1. Required Buyer Agreements

Prior to this settlement proposal, it was acceptable (though not widely practiced) for buyer’s agents to forge relatively informal, unwritten agreements with their clients regarding service. Following these proposed changes, buyers must sign a service agreement with a real estate professional in order to be shown homes. 

2. Buyer’s Agent Compensation

Prior to the proposed changes in the settlement, buyer’s agents were compensated via a cooperation agreement with the seller and seller’s agent facilitated by the multiple listing service. While this sort of cooperation is still allowed, the MLS is no longer allowed to coordinate it. Buyer’s agents will now be responsible for negotiating their own compensation with clients.

FAQ

As a homebuyer, these changes will require new, important conversations between you and your real estate professional. A buyer service agreement will formalize your agent’s fiduciary responsibility to you, further protecting your interests. It will allow the opportunity for real, transparent communication with your agent around compensation, offering you a clear understanding of the cost of services and how those services benefit you. 

These conversations will ultimately set buyers up for greater success in their transactions. More buyers will start the home search process with a clear understanding of their strategy, how their agent will support them, and what it will take to get to the closing table. 

Two major changes: First, compensation offers to buyer’s agents will no longer be displayed on the MLS, and the MLS won’t be allowed to facilitate commission cooperation between the buy and sell sides of transactions. Second, all buyers will be required to sign a buyer agreement with their agent outlining service terms, including commission requirements.

Yes. Luxury Presence has created a strategy guide for agents seeking advice on negotiating buy-side compensation. Get your copy of The Future of Buy-Side Compensation here

The best agents have shifted their thinking from the top line to the bottom line. They're obsessed with the client experience. They're taking action very quickly to level up the technology in their businesses because they understand it's the only way to deliver strong profitability and a world-class client experience.

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How I Work With Buyers

As my client, you can expect nothing but the highest level of service and counsel. I take my fiduciary commitment to you extremely seriously and believe that the best way to advocate for your best interests is through preparation. For each property my clients consider, I create a complete set of market research, potential pricing and offer strategies, contract negotiation tactics, and more.

Before the NAR lawsuit settlement proposal, some buyer’s agents were able to get away with doing the bare minimum. Thanks to assumed cooperation with the seller, they might get paid for simply showing up, unlocking doors, and pushing papers. 

While that was never my approach, it is now no longer the world we live in. As my client, you can rest assured that I will provide you with expert-level service and advice throughout our professional relationship.

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Testimonials

"It was a pleasure working with Kathy Remski and her team. They made the sale of our home stress-free. They always worked around our schedule, provided great advice, and were extremely responsive. Kathy’s local knowledge was very helpful. Wonderful REALTOR, we highly recommend Kathy and her team."
"It was a pleasure working with Kathy Remski and her team. They made the sale of our home stress-free. They always worked around our schedule, provided great advice, and were extremely responsive. Kathy’s local knowledge was very helpful. Wonderful REALTOR, we highly recommend Kathy and her team."
Inga A.
"Kathy was amazing. Her attention to detail, flexibility, and willingness to answer our many questions helped guide our family through the entire selling experience with no issues. Kathy was able to position the house in a manner where we were able to sell it quickly and above our projected market price. All-around great results!"
"Kathy was amazing. Her attention to detail, flexibility, and willingness to answer our many questions helped guide our family through the entire selling experience with no issues. Kathy was able to position the house in a manner where we were able to sell it quickly and above our projected market price. All-around great results!"
Darryl P.
"Kathy did an outstanding job selling my Aunt's house. We were able to sell it in eleven days. My Aunt's house needed some TLC and she was very helpful in having several contacts that were able to get the house in shape for the sale. Kathy was always available and willing to go above and beyond for me. I highly recommend Kathy."
"Kathy did an outstanding job selling my Aunt's house. We were able to sell it in eleven days. My Aunt's house needed some TLC and she was very helpful in having several contacts that were able to get the house in shape for the sale. Kathy was always available and willing to go above and beyond for me. I highly recommend Kathy."
Tracy R.
"I cannot recommend Kathy Remski enough. With her guidance, my partner and I were able to find our dream home (in a tough market) that allows us to move back closer to our family. I never felt like just a "client" of Kathy's, it felt like a true partnership. She was communicative, flexible, and incredibly patient. As a first-time homebuyer, being able to trust her through the entire process was a huge relief. Thank you, Kathy!"
"I cannot recommend Kathy Remski enough. With her guidance, my partner and I were able to find our dream home (in a tough market) that allows us to move back closer to our family. I never felt like just a "client" of Kathy's, it felt like a true partnership. She was communicative, flexible, and incredibly patient. As a first-time homebuyer, being able to trust her through the entire process was a huge relief. Thank you, Kathy!"
Paige R.
"Kathy sold our house in September of this year. She is the best REALTORS I have ever had. She is very professional and very very hard workers. Kathy answers the phone, text, and email any time, day or night, if, and when we had any questions. I strongly recommend her to anyone who needs help with any real estate business. But what is most important to me is my kids and my wife loved her and we always are going to use Kathy for any future real estate business that we might need."
"Kathy sold our house in September of this year. She is the best REALTORS I have ever had. She is very professional and very very hard workers. Kathy answers the phone, text, and email any time, day or night, if, and when we had any questions. I strongly recommend her to anyone who needs help with any real estate business. But what is most important to me is my kids and my wife loved her and we always are going to use Kathy for any future real estate business that we might need."
Mario U.
"Kathy set the bar of professionalism and experience that other REALTORS should strive for. The process of selling our home was quick and efficient and almost stress-free because of their understanding of our situation. Kathy was realistic in her expectations of the housing market and how to successfully market our home. When there was an issue, she was determined to problem-solve it and made sure we were satisfied with the outcome. Kathy dealt with an inexperienced REALTOR on the buyer’s side and made sure that the highest level of professionalism was upheld. We would never think of using anyone but Kathy in any future real estate dealings."
"Kathy set the bar of professionalism and experience that other REALTORS should strive for. The process of selling our home was quick and efficient and almost stress-free because of their understanding of our situation. Kathy was realistic in her expectations of the housing market and how to successfully market our home. When there was an issue, she was determined to problem-solve it and made sure we were satisfied with the outcome. Kathy dealt with an inexperienced REALTOR on the buyer’s side and made sure that the highest level of professionalism was upheld. We would never think of using anyone but Kathy in any future real estate dealings."
Doug B.
"Kathy was a star in very sense of the word. From initial market assessment, preparation and staging of the house for listing and viewing and during the entire process through closing. She worked tirelessly to get me the best price and even more important to make it so easy and hassle free. I would recommend Kathy to any relative or friend with enthusiasm. Thank you Kathy!"
"Kathy was a star in very sense of the word. From initial market assessment, preparation and staging of the house for listing and viewing and during the entire process through closing. She worked tirelessly to get me the best price and even more important to make it so easy and hassle free. I would recommend Kathy to any relative or friend with enthusiasm. Thank you Kathy!"
Mark L.
"I highly recommend Kathy based on her location knowledge, process experience, responsiveness and negotiation skills. Kathy has a vast knowledge of the Detroit metro area and the neighborhoods/homes that fit our requirements. Kathy’s experience in the search, bid and closing process gave us a secure feeling through all stages of the purchase process. Kathy was always available day or night even stepping away from a church ceremony to facilitate communicates between us and the seller. Kathy performed extremely well in a very competitive market giving us guidance on negotiating our final offer and concessions. Great experience. "
"I highly recommend Kathy based on her location knowledge, process experience, responsiveness and negotiation skills. Kathy has a vast knowledge of the Detroit metro area and the neighborhoods/homes that fit our requirements. Kathy’s experience in the search, bid and closing process gave us a secure feeling through all stages of the purchase process. Kathy was always available day or night even stepping away from a church ceremony to facilitate communicates between us and the seller. Kathy performed extremely well in a very competitive market giving us guidance on negotiating our final offer and concessions. Great experience. "
Greg G.
"Kathy was absolutely amazing! Very precise, very confident and easy to work with. Easy to get ahold of. Understood our needs and would definitely work with again! She and her team are extremely professional and on the ball about everything to make sure our sell was easy & smooth. Would recommend Kathy & her team to anyone! "
"Kathy was absolutely amazing! Very precise, very confident and easy to work with. Easy to get ahold of. Understood our needs and would definitely work with again! She and her team are extremely professional and on the ball about everything to make sure our sell was easy & smooth. Would recommend Kathy & her team to anyone! "
Melinda S.
"I had a wonderful experience working with Kathy and her team at @properties Christie's. Kathy is very professional and responsive. Kathy's collaborative approach and her strategy for selling our home was great. We sold quickly and above our asking price. After vacating our home and moving out of state, Kathy made remote closing very easy."
"I had a wonderful experience working with Kathy and her team at @properties Christie's. Kathy is very professional and responsive. Kathy's collaborative approach and her strategy for selling our home was great. We sold quickly and above our asking price. After vacating our home and moving out of state, Kathy made remote closing very easy."
Jon S.
"Kathy did a wonderful job helping us with the purchase of our home. From start to finish, Kathy was extremely helpful with every step of the process. When we looked at homes, she offered valuable insights and asked important questions. And when it came to offering, she was efficient and skillful with the negotiation process. Beyond her abilities as an agent, what we appreciated about Kathy is how much she values personal relationships. She and Jim do not treat the real estate process as simply a transaction. We always felt that our best interests were at heart. Needless to say, we would recommend Kathy to anyone interested in purchasing or selling a home! "
"Kathy did a wonderful job helping us with the purchase of our home. From start to finish, Kathy was extremely helpful with every step of the process. When we looked at homes, she offered valuable insights and asked important questions. And when it came to offering, she was efficient and skillful with the negotiation process. Beyond her abilities as an agent, what we appreciated about Kathy is how much she values personal relationships. She and Jim do not treat the real estate process as simply a transaction. We always felt that our best interests were at heart. Needless to say, we would recommend Kathy to anyone interested in purchasing or selling a home! "
Alex Z.
"The whole process of finding a home can be stressful. Honestly, Kathy Remski is the most professional, hard working agent who makes the whole experience a pleasure. Always optimistic and willing to go the extra mile for us. She is the very best around!"
"The whole process of finding a home can be stressful. Honestly, Kathy Remski is the most professional, hard working agent who makes the whole experience a pleasure. Always optimistic and willing to go the extra mile for us. She is the very best around!"
Jim & Julie B.
"I wish I could give six stars for my experience with Kathy and her team! Beyond communicative and helpful. This was hands down the smoothest home sale I've gone through and I'm sad it's over. She took care of everything including navigating around a crazy schedule, exceptional marketing efforts, and attention-to-detail for every step. Look no further than Kathy and her team!"
"I wish I could give six stars for my experience with Kathy and her team! Beyond communicative and helpful. This was hands down the smoothest home sale I've gone through and I'm sad it's over. She took care of everything including navigating around a crazy schedule, exceptional marketing efforts, and attention-to-detail for every step. Look no further than Kathy and her team!"
Madison D.