The Hudson Gateway Association of Realtors has established a one-stop location for members to get the latest tools, forms and information on the NAR settlement and the practice changes dictated by the settlement reached in March of this year.
The Government Affairs Department at HGAR will be facilitating the first ever New York City Lobby Day on Oct. 23rd. In collaboration with the Long Island Board of Realtors, both organizations will be converging on City Hall to speak to our City Council members about our issues.
Since November 2023, Wright shepherded the association in early 2024 through negotiations that led to a $418-million settlement to resolve claims brought on behalf of home sellers related to broker commissions
The Hudson Gateway Association of Realtors has established a one-stop location for members to get the latest tools, forms and information on the NAR settlement and the practice changes dictated by the settlement reached in March of this year.
WHITE PLAINS—The Hudson Gateway Association of Realtors recently held highly informative presentations, first at the White Plains headquarters office on Aug. 14 and virtually on Aug. 20 to have HGAR members understand the National Association of Realtors commission settlement and provide them the tools to conduct business in the evolving real estate brokerage environment.
The Aug. 14th session at the HGAR offices was hosted by HGAR Chief Executive Officer Lynda Fernandez and featured antitrust industry expert Brian Schneider, Esq. of ArentFox Schiff, LLP. The online session on Aug. 20 featured HGAR General Counsel and Professional Standards Administrator Brian Levine.
The NAR practice changes that went into effect on Aug. 17 included:
Schneider during his presentation related that there are five rules Realtors should follow to be protected from future lawsuits:
Mandated MLS policy changes per the NAR settlement agreement were implemented by OneKey MLS on Aug. 8 when all listings on OneKey MLS that were not under a valid contract for sale, must now have a new listing agreement (or addendum) that complies with the NAR settlement agreement mandate. Note: those listings that are under a valid contract for sale prior to Aug. 8 did not need to be updated.
The sessions with Schneider and HGAR’s Levine concluded with lively and very informative question and answer sessions.
The Hudson Gateway Association of Realtors has established a one-stop location for members to get the latest tools, forms and information on the NAR settlement and the practice changes dictated by the settlement reached in March of this year. HGAR members are encouraged to go to: https://hgar.com/news-stats/nar-settlement. For forms, HGAR members should go to the Documents section of the HGAR website.
At the HGAR site, Schneider’s entire presentation including graphics and a video recording are available. In addition are a host of videos and blogs from a variety of sources including NAR, the New York State Association of Realtors and HGAR. The Aug. 20th session, the second given by Levine, can be found at: https://www.hgar.com/news-stats/nar-settlement.
Since November 2023, Wright shepherded the association in early 2024 through negotiations that led to a $418-million settlement to resolve claims brought on behalf of home sellers related to broker commissions
When we’re talking about what our challenges are in the industry—there’s inventory, there’s insurance and there’s inflation. Those are things that we do not have control over, but those are things we continue to educate people on.”
The listing broker or the seller may offer compensation to the buyer’s agent, but there are limitations to how that offer can be marketed—i.e., brokers can no longer communicate offers of compensation on an MLS.
“We are grateful to our many Realtor and Affiliate members who contribute their time, money and energy to the HG Realtor Foundation to make all this possible.”
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