NAR recommends that all MLSs implement practice changes by August 17
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| NAR Updated Reminder Implement Practice Changes |
| Ahead of the August 17 practice changes, NAR wanted to provide a few reminders of actions that are required to obtain a release of liability and protect your organization from claims related to broker commissions: . REALTOR® MLSs (those owned exclusively by one or more REALTOR® Member Boards) must do so to remain in compliance with NAR policy. Offers of compensation are prohibited on MLSs. Offers of compensation will continue to be an option consumers can pursue off-MLS through negotiation and consultation with real estate professionals. Offers of compensation help make homeownership and the benefits of professional representation more accessible to buyers, including first-time homebuyers, increase homeownership opportunities for historically underserved groups, and benefit sellers by expanding the potential buyer pool. Agents working with a buyer must enter into a written agreement before touring a home. Ahead of August 17, NAR encourages all members to address form changes and prepare to educate real estate professionals and consumers about revised forms. NAR policy does not dictate the terms of buyer agreements, but NAR has created resources to assist with implementing the settlement terms—such as tips on clarity and emphasizing consumer choice—including our “Written Buyer Agreements 101” resource, available here. |
 | NAR also wants to make you aware of several recent updates, including: Questions #56 and #62 on facts.realtor have been updated to clarify when a written buyer agreement is required and what it means to be “working with a buyer.” |
That said, as per NJ real estate law and industry best practices, I am required to have a Buyer Representation Agreement in place before I show any homes in person. I completely understand that you may not be ready to commit long-term to one agent, so here’s a very flexible solution:
• We can sign a limited buyer agreement, which will apply only to the property I show you — no time limit, no exclusivity.
• This means you are free to work with other agents for other properties if you choose.
• For each property I show you, I’ll note it clearly in the agreement (e.g., via ShowingTime or in writing), so we’re both on the same page.
When you work with me, you’re getting:
• Guidance from someone who’s done renovation and flip projects and understands hidden costs and opportunities.
• Access to pre-offer valuation tools to estimate the appraisal value upfront and avoid overpaying.
Let me know if this works for you, and we can take the next step together.
Best regards,
Anil Aggarwal
732-877-8585
Anil.Aggarwal@vylla.com
