R
eal estate agents across the nation are implementing new guidelines set forth by the National Association of Realtors (NAR) to enhance transparency and consumer choice in real estate transactions. These changes require agents to establish written agreements with their clients before touring a property and include revised compensation disclosures.

    State associations have been proactive in adjusting their forms to comply with these changes. For example, Maryland REALTORS® created two new forms: an addendum to the sale contract allowing buyers to request compensation directly from the seller and an agreement between brokers for cooperative compensation that cannot be listed on the MLS.

    To ensure a smooth transition, associations have provided extensive educational resources such as webinars, workshops, and direct consultations with members. The Pennsylvania Association of Realtors (PAR) worked closely with its Standard Form Committee to revise over 20 forms to reflect the practice changes while maintaining existing fee flexibility.

    As the industry adapts to these changes, the focus remains on improving real estate professionals' ability to serve their clients' interests. The practice changes are expected to foster a more transparent marketplace, benefiting both consumers and agents by clarifying the financial aspects of real estate transactions.

    Associations plan to continue refining their forms and training processes to accommodate various state and local laws. Agents who have questions about these changes can visit facts.realtor for more information.