NAR Proposed Settlement Resources
Canopy’s communication efforts and resources regarding NAR proposed settlement
Four new violations to be enforced by Canopy MLS compliance staff
Read the article: Four new violations to be enforced by Canopy MLS compliance staff
Message from the President: Moving Forward with Practice Changes
Charisma Southerland, 2024 Canopy Realtor® Association/Canopy MLS President, has a personal message about how we all move forward with practice changes and reminds members about the resources and FAQ’s provided by Canopy, NAR, NC REALTORS®, and SC REALTORS® — all conveniently housed at brokerrelations.canopyrealtors.com.
Download and read these resources:
Prepare for Practice Changes Taking Effect August 1
In this video message, Charisma Southerland, Canopy Association/Canopy MLS president, provides a summary of the practice changes taking effect Thurs., Aug. 1. Topics covered include:
- Compensation
- Pending Transactions
- Buyer Agreements and Required Disclosures
- The NEW NC Form 715
You can also download a summary of the Practice Changes Taking Effect August 1 with links to more information.
Canopy Town Hall recording from June 18, 2024
This Town Hall Meeting recording includes Charisma Southerland, president of Canopy Realtor® Association/Canopy MLS, asking Canopy CEO Anne Marie DeCatsye, Esq., the most frequently asked questions regarding the NAR post settlement practice changes along with John Wait, NC REALTORS® Legal Counsel, Martin & Gifford, PLLC, answering the most frequently asked questions about NC state forms.
Charisma Southerland, president of Canopy Realtor® Association/Canopy MLS, shares Canopy’s perspective on the NAR proposed settlement, Buyer Agency Agreements, prioritizing conversations with your clients about the services Realtors® provide and compensation.
Litigation Update from NAR President Kevin Sears and CLO Katie Johnson
Mar 22, 2024
Kevin Sears: Discussing Key Settlement Considerations and Ongoing Advocacy Efforts On the Road
Resources
NAR
- NEW: Seller Concessions
- NEW: Offers of Compensation
- Why Am I Being Asked to Sign a Written Buyer Agreement?
- Open Houses and Written Agreements
- REALTORS’® Duty to Put Client Interests Above Their Own
- What Veterans Need to Know About Buying a Home
- Consumer Guide to Written Buyer Agreements
- Quick Guide to Practice Changes
- Written Buyer Agreements 101
- Facts for Realtors®
- Settlement FAQs
- Canopy’s one page Summary: NAR settlement facts
- Q&A related to financing
- Estimated timeline
- Facts Videos: About settlement, new practice changes and MLS rules question and answer video series
NC REALTORS®
- Legal Q&A | Edits to Form 220 and New Forms 201, 202, and 220G
- Legal Q&A | Am I required to share my buyer agency agreement with the seller to prove compensation?
- What if a buyer refuses to sign a written buyer agreement before a home tour?
- Revised Form 220 – Frequent Questions Answered
- Legal Q & As: Best Practices for the Cooperating Compensation Agreement (Form 220)
- Written Buyer Agreements and New MLS Policy
- Legal Q&A | New Form 715 and Amending Existing Agency Agreements for MLS Rules Compliance
- Overview of NAR Settlement
- Legal Q&A: Navigating Cooperative Compensation in Compliance with the License Law and the Code of Ethics
- Canopy’s clarification of NC REALTORS® Q&A #7 re: compensation
SC REALTORS®
Canopy Realtor® Association
Canopy’s latest resources regarding the NAR proposed settlement are available under Realtor® Resources.
Canopy addresses media coverage with the facts and conducting interviews
The media’s portrayal of the proposed NAR settlement, announced March 15, which would put an end to the litigation of claims brought on behalf of home sellers nationwide related to broker commissions, has been cloudy at best. While the proposed settlement is still subject to court approval and therefore not final, Canopy has been proactively monitoring these court cases and planning for various outcomes for quite some time, one of which was the possibility that compensation through the MLS would ultimately be eliminated.
Canopy Media Statement and Media Coverage:
Canopy CEO explains practice changes
Spectrum News, Aug. 2, 2024
Interviews conducted by Canopy CEO Anne Marie DeCatsye
Request a legal landscape presentation
Anne Marie DeCatsye, CEO, and Michele McCaskill, VP of Risk Management and Assistant General Counsel, are making presentations to firms in person and virtually. The presentation provides an overview of the current legal landscape, the impact these lawsuits will have on NAR and Canopy, what the future could look like for both organizations, and the importance of demonstrating, to consumers, the value the Realtor® brings to each real estate transaction.
If you are interested in having a presentation scheduled, please contact Danielle Melendez.