Dear NEFAR members,
Thank you for your patience over the past several weeks since the NAR Settlement proposal was announced for the commission lawsuits nationwide. Hopefully, you have had a chance to see the responses from Nicole Jensen, our own realMLS CEO, and from 2024 realMLS President Ray Rivera, as well as from Florida Realtors®, and the regular updates from 2024 NAR President Kevin Sears.
NEFAR is also currently monitoring the unfolding events and any changes regarding the settlement proposal, which is still pending court approval. Many of our members’ firms are not immediately within the scope of the settlement, and we urge you to keep informed by being in contact with your brokers and managers for continuing updates.
We do recommend that you become familiar with and utilize Buyer Brokerage agreements if you haven’t been in the practice of doing so before. The details regarding the use of these agreements should come from your broker. Whatever the ultimate court-approved settlement may be, the implementation timeline will be mid-July. We also strongly recommend you take advantage of the free ABR classes now offered by NAR to learn more about the latest best practices for working with buyers.
Please know that NEFAR is monitoring the national events concerning the settlement closely. Rest assured that the Northeast Florida Association of REALTORS® is committed to continuing its ever-increasing array of services to its members. Stay tuned for announcements regarding the updated benefits that NEFAR is and will be providing by reading your Monday Member Updates and by following NEFAR.com, our website.
Best wishes,
Rory A. Dubin
2024 NEFAR President
