NAR recommends all MLSs implement practice changes by August 17. Realtor® MLSs must implement the changes by this date to remain in compliance with NAR policy.

Under the settlement, the following practice changes will take effect:

• Offers of compensation will be prohibited on Multiple Listing Services (MLSs). Offers of compensation will continue to be an option consumers can pursue off-MLS through negotiation and consultation with real estate professionals. Offers of compensation help make homeownership and the benefits of professional representation more accessible to buyers—especially first-time homebuyers—increase homeownership opportunities for historically underserved groups, and benefit sellers by expanding the potential buyer pool and ensuring they receive the best offer possible for their property.
• Agents working with a buyer must enter into a written buyer agreement before touring a home. The practice changes do not require an agency agreement or dictate any type of relationship. NAR encourages all members to address form changes and prepare to educate real estate professionals and consumers about revised forms as soon as possible ahead of August 17. NAR policy does not dictate terms of buyer agreements, but NAR has created resources to assist with implementation of the settlement terms—such as tips on clarity and emphasizing consumer choice and a "Written Buyer Agreements 101" resource.

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