The National Association of Realtors® (NAR) launched a new “Consumer Guide” series last week.
Six one-page guides are already available, and more are on the way. NAR says these resources aim to clarify critical topics for home buyers and sellers, making it easier for agents to educate their clients—but initial reactions make it clear that not all agents agree.
What’s Included in the Guides?
Each of the guides focuses on a different aspect of the real estate process, with the following six guides currently available:
- Why am I being asked to sign a written buyer agreement? Explains the necessity of buyer agreements and the recent practice changes that make them an essential step before touring homes.
- Open houses and written agreements Clarifies when a written buyer agreement is required and what buyers should know about attending open houses.
- Realtors’® duty to put client interests above their own Highlights NAR’s Code of Ethics, emphasizing how Realtors are bound to act in the best interests of their clients.
- What veterans need to know about buying a home Focuses on financing options available to veterans, helping agents guide their veteran clients through the buying process.
- Offers of compensation Covers how compensation for buyer’s agents works and how sellers can use this as part of their marketing strategy.
- Negotiating written buyer agreements Provides tips for buyers and their agents on negotiating terms, services, and compensation in written agreements.
Agent Reactions
Ricky Carruth posted a reaction video to the new consumer guides on YouTube—specifically the guide on offers of compensation.
“What’s so funny is, when the lawsuit happened, their report and their stance was, ‘We don’t have anything to do with commissions. We don’t talk about commissions, we don’t tell agents what to charge. We don’t say or do anything when it comes to commissions.’
“Now all of a sudden, they are. They’re giving sellers advice on commissions. Right, so now they’re advising my clients on my commission….It feels like a desperate attempt to try to satisfy the plaintiffs.”
Real estate agents were quick share their own thoughts in the comments:
And for more commentary, watch Carruth’s YouTube video:
