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Understanding the

NAR Lawsuit Settlement

What You Need to Know

In March 2024, in response to a pending lawsuit judgment against them, the National Association of Realtors® released a set of proposed policy and practice changes that will reframe the relationship between real estate professionals and buyers. To be clear, the industry’s fiduciary commitment to the best interests of clients hasn’t changed, but the way agents and buyer clients formalize professional relationships will.

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Changes to the Homebuying Experience

As a homebuyer, this proposed settlement means there will be some changes to your real estate experience:

1. Required Buyer Agreements

Prior to this settlement proposal, it was acceptable (though not widely practiced) for buyer’s agents to forge relatively informal, unwritten agreements with their clients regarding service. Following these proposed changes, buyers must sign a service agreement with a real estate professional in order to be shown homes. 

2. Buyer’s Agent Compensation

Prior to the proposed changes in the settlement, buyer’s agents were compensated via a cooperation agreement with the seller and seller’s agent facilitated by the multiple listing service. While this sort of cooperation is still allowed, the MLS is no longer allowed to coordinate it. Buyer’s agents will now be responsible for negotiating their own compensation with clients.

FAQ

As a homebuyer, these changes will require new, important conversations between you and your real estate professional. A buyer service agreement will formalize your agent’s fiduciary responsibility to you, further protecting your interests. It will allow the opportunity for real, transparent communication with your agent around compensation, offering you a clear understanding of the cost of services and how those services benefit you. 

These conversations will ultimately set buyers up for greater success in their transactions. More buyers will start the home search process with a clear understanding of their strategy, how their agent will support them, and what it will take to get to the closing table. 

Two major changes: First, compensation offers to buyer’s agents will no longer be displayed on the MLS, and the MLS won’t be allowed to facilitate commission cooperation between the buy and sell sides of transactions. Second, all buyers will be required to sign a buyer agreement with their agent outlining service terms, including commission requirements.

Yes. Luxury Presence has created a strategy guide for agents seeking advice on negotiating buy-side compensation. Get your copy of The Future of Buy-Side Compensation here

The best agents have shifted their thinking from the top line to the bottom line. They're obsessed with the client experience. They're taking action very quickly to level up the technology in their businesses because they understand it's the only way to deliver strong profitability and a world-class client experience.

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How I Work With Buyers

As my client, you can expect nothing but the highest level of service and counsel. I take my fiduciary commitment to you extremely seriously and believe that the best way to advocate for your best interests is through preparation. For each property my clients consider, I create a complete set of market research, potential pricing and offer strategies, contract negotiation tactics, and more.

Before the NAR lawsuit settlement proposal, some buyer’s agents were able to get away with doing the bare minimum. Thanks to assumed cooperation with the seller, they might get paid for simply showing up, unlocking doors, and pushing papers. 

While that was never my approach, it is now no longer the world we live in. As my client, you can rest assured that I will provide you with expert-level service and advice throughout our professional relationship.

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Testimonials

Read what our clients have to say about working with us.
"My wife and I are experienced real estate investors and were looking for a second home for personal use. We were fortunate to find Ann Dempsey who proved to be instrumental in helping us find the perfect home. Her broad knowledge of the market, outstanding thoroughness, solid professionalism and strong negotiating skills made our purchase transaction a very positive and ultimately rewarding experience. She is one of the most capable real estate professionals we have ever encountered."
"My wife and I are experienced real estate investors and were looking for a second home for personal use. We were fortunate to find Ann Dempsey who proved to be instrumental in helping us find the perfect home. Her broad knowledge of the market, outstanding thoroughness, solid professionalism and strong negotiating skills made our purchase transaction a very positive and ultimately rewarding experience. She is one of the most capable real estate professionals we have ever encountered."
JM C.
"I stumbled upon Mrs Ann Dempsey on zillow and that was a very lucky day for my husband and myself. In an area saturated with realtors I had no idea how to begin to choose. I emailed several realtors off of Zillow and she was the first to respond in a matter of minutes to my question and offer to show the property immediately. To say that she accomadated our schedule would be an understatement. There were several times she agreed to show us homes late at night so that my husband and I could go together when he got off of work. You can not put a price or a rating on service such as this. We were concerned about losing a home at one point to a better offer and she met us literally at midnight in order to get the papers submitted. If you want years of experience in this area and world class service, look no further than Mrs. Ann Dempsey. I can assure you will not be disappointed."
"I stumbled upon Mrs Ann Dempsey on zillow and that was a very lucky day for my husband and myself. In an area saturated with realtors I had no idea how to begin to choose. I emailed several realtors off of Zillow and she was the first to respond in a matter of minutes to my question and offer to show the property immediately. To say that she accomadated our schedule would be an understatement. There were several times she agreed to show us homes late at night so that my husband and I could go together when he got off of work. You can not put a price or a rating on service such as this. We were concerned about losing a home at one point to a better offer and she met us literally at midnight in order to get the papers submitted. If you want years of experience in this area and world class service, look no further than Mrs. Ann Dempsey. I can assure you will not be disappointed."
Buyer
"Ann helped us find a vacation home for us at St. Simons Island, GA. She was exceptional. She provided information about the homes available, took us to see them on our schedule and never pressured us in any way. When we got down to choosing between two homes, her input was invaluable, and we feel we absolutely made the right decision because of her expertise. I would recommend her to anyone and already have."
"Ann helped us find a vacation home for us at St. Simons Island, GA. She was exceptional. She provided information about the homes available, took us to see them on our schedule and never pressured us in any way. When we got down to choosing between two homes, her input was invaluable, and we feel we absolutely made the right decision because of her expertise. I would recommend her to anyone and already have."
Zoe H.
"Ann has been our real estate agent for the sale of 2 homes as well as the purchase of land over the course of the past 12 years. We would highly recommend Ann as a buyers agent as she is extremely knowledgeable concerning all available properties as well as a sellers agent as she was able to guide us through the negotiating process to insure the best available selling price for our home. We would never consider using anyone else but Ann concerning our real estate needs."
"Ann has been our real estate agent for the sale of 2 homes as well as the purchase of land over the course of the past 12 years. We would highly recommend Ann as a buyers agent as she is extremely knowledgeable concerning all available properties as well as a sellers agent as she was able to guide us through the negotiating process to insure the best available selling price for our home. We would never consider using anyone else but Ann concerning our real estate needs."
Derek R.
"I just would like to say that I have never met or spoken to Ann Dempsey. I have been looking at real estate for a year or so and have been appalled at the written descriptions of homes for sale. I am sure I have passed up many homes that I would have considered because the written description of the home was poor. Ms. Dempsey's are beautifully written. Kudos to you Ms. Ann Dempsey!"
"I just would like to say that I have never met or spoken to Ann Dempsey. I have been looking at real estate for a year or so and have been appalled at the written descriptions of homes for sale. I am sure I have passed up many homes that I would have considered because the written description of the home was poor. Ms. Dempsey's are beautifully written. Kudos to you Ms. Ann Dempsey!"
Kremy
"Ann has sold two homes for us over the 30+ years we have been married. She is professional and personable. The process of selling a home can be overwhelming yet, Ann has a way of making everything easy with grace! She is the number one person I would recommend to anyone buying or selling their home. We truly love her!"
"Ann has sold two homes for us over the 30+ years we have been married. She is professional and personable. The process of selling a home can be overwhelming yet, Ann has a way of making everything easy with grace! She is the number one person I would recommend to anyone buying or selling their home. We truly love her!"
Al & Judy C.
"We had been trying to sell our house for several years. We had gone through at least 5 different realtors without any success. Ann Dempsey was extremely generous with her time and communication, very creative in her approach and professional at every step. If we could, we would use her to sell our house in Tennessee! Thank you, Ann, for everything!"
"We had been trying to sell our house for several years. We had gone through at least 5 different realtors without any success. Ann Dempsey was extremely generous with her time and communication, very creative in her approach and professional at every step. If we could, we would use her to sell our house in Tennessee! Thank you, Ann, for everything!"
Julia N.
"Ann has the experience, market knowledge, vision, and sincere desire that allows her to make things happen. It happened exactly the way she said it would. Highly recommend if you want the best! Ann was a pleasure and easy to work with."
"Ann has the experience, market knowledge, vision, and sincere desire that allows her to make things happen. It happened exactly the way she said it would. Highly recommend if you want the best! Ann was a pleasure and easy to work with."
John P.
"Ann Dempsey is an outstanding Realtor with an excellent command of the local market conditions . She effectively priced our home for sale - we ended up receiving three offers and sold the home in a day for more than asking. This was our third transaction with Ann and she has never disappointed us. She makes good use of social media and provides exceptional communications throughout the sales process. "
"Ann Dempsey is an outstanding Realtor with an excellent command of the local market conditions . She effectively priced our home for sale - we ended up receiving three offers and sold the home in a day for more than asking. This was our third transaction with Ann and she has never disappointed us. She makes good use of social media and provides exceptional communications throughout the sales process. "
John M.