We'll begin here shortly. We'll keep waiting for the, room to fill in. We don't have Hodge with us.
I know throughout the day today, he was, having theme music at the start of all of these, so I'm not fancy.
Yeah.
He was all fancy on his end.
Need our entrance.
K. We'll give it two more minutes. We will give it two more minutes. As a usual LPT fashion, we will start three minutes after the hour.
What are we doing tonight, guys? Seven PM. This is NAR one o this is the changes one zero one. Right?
I'm excited about this.
Yeah. Yeah. This is a good one. I mean, this is the the more the more heavy filled substance. Right? You know, more black and white coming out of this. We also have a slide deck ready to share with you guys this presentation.
So we're definitely excited to share, this one with everyone. Hello. Good evening, Sarah.
Alright. Hey, guys.
Alright. Just a few more seconds, guys. A few more seconds, and we will begin.
I had a great, conversation with one of our agents tonight, and, he went on a listing appointment yesterday.
And it was fresh off of our nine AM, you know, morning coffee. And he's like, first thing I do, I get a listing appointment, and the the seller the seller's son who was, like, in financial services asked about the NARS settlement and how he would approach it. And he's like, I had all these words in my brain fresh and, like, sentences. And he's like, it was just like I felt so prepared. He's like, so I took him through it, and they hired me on the spot, got the listing appointment signed gristling agreement signed. And, they said they'd interviewed, like, two or three other agents. And, you know, he was like he said that the other agents had not spoken as intelligently or been able to articulate what the changes meant.
And he's like, you know, just, like, coming straight off of an hour before I'm on this listing appointment, I was listening to you guys on the coffee. And, he's like, I was just so prepared. And I'm like, I love that. Like, that's that's what we're here to do.
You know? This is That's awesome. This is about making sure LPT agents are in a position to win. And as I've heard so many great stories of that.
And, you know, one of the things I do so, Dan Kennedy, big marketing guy that I followed for a long time, you know, the the grandfather of of copywriting and direct response. And so when I need to get in the zone, for a marketing piece, I will listen to audio of his old seminars. I probably have, like, fifty, a hundred hours of his seminars on m p three on my computer. And I'll just put the headphones on and listen to, like, two hours of it.
And it's just inspiration. Right? And it it gets your mind in the right place and the right synapses are firing. And I feel like that's exactly what these these five a day sessions are about for this BBA marathon is walking out of a, you know, fresh content, live content, interaction with us to go have that listing appointment, have that buyer broker conversation.
And I don't I don't think you can, fully, you know, I guess, understand or maybe most people would underestimate the impact that has. But coming off of one of these meetings and then going out to talk to a a consumer, either a buyer or a seller, just, again, your brain you're in that mode. You're in that zone. You are prepared.
It's like like an Olympic athlete listening to, you know, the the hype music before they they do their run or whatever. Like, that's what these are meant to be, and it's it's so cool to hear the success stories. So with that, I'm gonna let you guys take it away with NAR one zero one and the the settlement changes. And I think Natalie is gonna be running the slide deck this evening, which is fantastic.
So, again, welcome everybody. So excited. I wanna you know, big shout out to our agents. You know, you guys have really embraced this, taking the time, being a part of this.
This is how we all win together, which is what it's all about.
Awesome. Yeah. So I've mentioned this is NAR one on one. So, Natalie, are you ready to share your screen?
I'm ready. I'm ready. I saw Corey put in the chat. Maybe I need a energy drink. I mean or an espresso martini. I don't know.
We're gonna see after this.
That's the ten o'clock that's the ten o'clock session, Natalie. Right. Three hours. Yeah.
Yeah.
But, no, we're so happy to be here with you guys. I love the story Robert just shared. It's so relevant. It's one of the reasons that I am passionate about being here for agents because the more repetition, the more you can wrap your mind around these concepts and the more you can simply give them definition in conversations with buyers and sellers, the better position you are to win. So that's definitely why we're here.
I'm gonna do my share screen and hope my mouse cooperates with me here. It's been a little buggy.
Alright. So this is so we are understanding kind of the the meat and the nuts and bolts of what the settlement means, and that's what we wanna build a conversation around tonight simply because all of the documents, all the language we're gonna see come out with all the forms are quite literally intended to be structured around and draw from, this settlement. And so that's what we're trying to wrap our brains around so we can, again, better articulate it. So I wanted to just start out with, hey, basics. Who does this affect?
In case some people on this call, maybe you don't know, maybe you've just been in your state bubble, this is, affects all realtors on a national level. So all realtors, all MLS participants, this is a far reaching thing. So you're not just going through this in Florida. We're going through this in Texas.
People are going through this in California. Quite literally every realtor, are we're making these shifts as an industry. So keep that in mind. You're you're definitely not on an island in this change.
Getting into kind of the main things here, what are what did it accomplish? So the first thing the settlement did stipulate is that, and as we've heard, that all MLS compensation are all compensation has to be removed from the MLS.
So, we've had some agents be quite shocked, with some of their local associations how strict some of these rules are. So I do like to get very practical with what that means.
The phrase directly or indirectly implying offers of compensation on the MLS. Right? So I know there's been a picture circulating with someone cutting three percent in their lawn, right, in their grass, and they have a drone photo they put on the MLS. Can't do that. Sorry. That would that would be a no go.
Putting the phrase buyer agent friendly on the MLS or, hiding compensation and showing time or maybe some of the other MLS syndicated platforms.
In sellers disclosures, the attachments, I've had some people say, well, can we put, you know, the compensation form maybe that we negotiate, predetermined with the seller in the attachments on the MLS?
Unfortunately, you can't.
You can't link your personal website, inside the comments or even the private realtor remarks that leads to an offer of compensation.
You can't even put, hey. Text me about an offer of compensation.
They're getting pretty granular.
We all need to understand we cannot directly or indirectly imply on the MLS buyer agent compensation. So we're going to have to pivot. Right? This is a big change. We have always done business this way.
And so some people, you know, they're like, okay. So let's go to the next slide here so we get more granular with it.
Where can you put it? Right? You're telling me all these places I can't put it on the MLS.
You can put it on listing power tools. So which is actually gives so much power to the consumer if you think about it. Because if a buyer is driving by, they see your sign rider and they text listing Power Tools number for more information, they go to that dedicated website. They're able to see right there. Oh, the seller is offering commission if the seller has chosen to predetermine that. So we can have it on your listing power tool site. On your personal website, for your personal listings, so you can't put offers of compensation for other people's listings on your site, but your personal listings, you can.
Signs and sign writers. You know, I had some people ask about the key with the tag on it, that was at the property that said three percent. I was like, you can put up a huge flyer, you know, or a fat head with a percentage in the property if you really wanted to. Like, there's no regulations against advertising in that manner.
Sign writers, flyers, text, email, phone calls, and social media too. I mean, these are all allowable ways that we can still get the word out. Like, hey. My seller is willing to compensate your buyer's agent.
So it can vary from state to state. We've been having some conversation about that.
I know Amanda was saying earlier, with social media, we might have to be careful due to the fact that it can be shared. Amanda, do you wanna speak to that at all?
Sure.
So we had the Massachusetts Association of Realtors legal, department on our state meeting the other day, and he was speaking to the fact that, if you post a compensation on Facebook or Twitter or any social media platform, it can be shared by other realtors, which technically is a gray area in this settlement.
So he advised the agents on our meeting that, he would strongly suggest not posting compensation on social media.
So that's kind of, again, state by state, but that is what the Massachusetts legal was recommending.
Yeah. So this is a national meeting. Remember?
So Yeah.
We're gonna talk straight. I mean, to me, that maybe it sounds just more like one guy's opinion in in that particular state.
And, like, I think that's kind of the problem where we are right now is there are all these unknowns. You know? We're we're taking the stance that, hey. The the NARS settlement specifically says social media posts are allowed.
I think it'd be tough to argue that the social media post was somehow MLS related, I guess. I mean, because your personal website can be shared too. I mean, I love the context, Amanda. Like, this I think the whole point of this is we're trying to share with everyone all the things we're hearing out there and all the things that are being said.
But, you know, I think there are there are gonna be people, again, legal teams from MLSs who may be taking ultra conservative stance. You know, again, we're talking about the national. I'd be curious if maybe if there is something in a specific state rule that makes that, you know, less, I guess, less desirable or if, again, this is like a guy kinda sharing his opinion. So, again, I think that's really the power of these calls we're having.
You know, Amanda sharing something she picked up on a state call, you know, and now, again, we as a brokerage are trying to interpret and decide. We're using text directly from the NAR settlements and FAQs. But this is exactly what we're dealing with right now is this unknowns. Right?
You've got an expert in one state saying one thing in the form of this, you know, MLS lawyer who, again, someone you should be able to rely on for sound advice. Maybe he's being more conservative. Maybe there's something else driving it. So these are the types of things we have to deal with.
And so, again, I just wanna point that out to everybody is I think there there isn't really one right answer right now. We're gonna deal with this. You know? I'll tell you right now that that we're we're telling you social media posts are okay.
If you got fined for a social media post, we would take the hit there as your brokerage, because, again, like, we're we're following an interpretation we have. But, again, I think that's a great example, Amanda, of the the different state interpretations, the different interpretations from MLS to MLS, from person to person. And I wanna point that out to everyone because this is what we're dealing with. We're gonna have to defend you guys from from some things that were probably totally okay because someone somewhere had a different interpretation, and this is just this is the road we're on together for the next couple of months as things get settled up.
Yep. I was gonna say just check your ask your brokers. Talk to your local resources right there. I've heard that same sentiment, Amanda said, I think, in South Carolina.
So like Robert said, I think Corey just posted it clear as mud. I think I've said clear as mud more times than I can count this week. And I and I I have. And and that's just the thing.
Use your brokers. Use us. We're here to help you. It might be state specific, so that's what we're here for.
Yeah.
It's interesting too that Massachusetts was the one that met mentioned that when our biggest MLS in Massachusetts is not getting rid of the compensation field. And they They opted out of the settlement.
Right? Yep. And they were named in the settlement too.
So, if you are a member of the National Association of Realtors and you use that compensation field, you're not protected under the settlement. But it's right there, so it's very easy for somebody to forget and and add that in. So it's interesting.
And I just wanna, Cindy asked how you can put on your personal website when your websites are connected to the MLS. You can only do it if it's not in an IDX feed. So I think we need to be specific there. That is with the MLS and the IDX feed. So you can put it on your personal website, but not if it's MLS driven speaking that language and on the IDX feed.
And that that is one of the beauties of listing power tools. So we we purposely never linked listing power tools to the MLS. We felt like it gave us more power to have that be a stand alone site. So as a part of an l a part of an agent here at LPT, obviously, you get a free listing power pack with every one of your listings.
That generates a single property website on the listing info, dot com domain that we host for you. It also returns that page and that information. If someone calls, you know, your listing and types in the code, it will read them the description. And so you can absolutely have that in there because that is absolutely not collect connected to the MLS.
The personal website becomes a gray area because if you're using an MLS fed, listing description or listing page, there's we've heard both ways there. My my gut says we shouldn't have it there because it is fed by MLS. But then if there's a different section of your website where you're just listing your properties not from MLS, now it's okay. Like, these are the weird areas.
We know listing power tools is safe. It's probably one of the best places for you to put that. But, again, this is where it gets gray. Are are we are we blending into MLS or not?
I I think the interesting thing there is, from my interpretation of the settlement, the burden on that one is on the the provider in the MLS. So I don't know that you're necessarily gonna see agent fines on the your website around that. It would be the MLS vendor who would be at risk of losing their MLS feed for allowing agents to place us. So, again, there's just so many different angles of this and different aspects people are coming from, but know that listing power tools, is a safe place to put it.
Love that. I know a lot of people have had questions too around fines. Right? That's been a big concern of agents.
Just to say that fines come into play with your local MLS when we are putting offers of compensation either directly or indirectly on MLS. So you don't have to as long as you've removed that from your MLS, you don't have to to fret or worry. Just make sure that you are using the appropriate channels like we've listed here to advertise that or communicate it with the agent directly.
So you're moving on to the second provision of the settlement, which is not only can you put can you not put compensation on the MLS, for a cooperating agent, but it also requires us to enter into a written buyer broker agreement prior to touring a home.
And that buyer broker agreement is required to have the following elements.
Identify who is paying compensation and clearly disclose the amount of compensation, and then give written notice to all parties that commissions are not set and are fully negotiable, which I'm sure a lot of you are seeing on your new listing agreements and your buyer broker agreements.
So, you know, kind of the big shift for states, such as Florida who have not previously been required to have this buyer broker agreement is the idea that it is now a requirement.
And not only as a requirement, but you have to have a set amount of compensation on that form, and it has to be clearly identified who is paying that, which in this case, the agreement is with your buyer.
So it is a big shift for some states. Other states, it's not.
So kind of what does that mean? I'm gonna break it down a little bit more.
Compensation on your buyer broker agreement cannot be an open ended range.
I know we've had some people wanna put on their, you know, commission, whatever the seller is offering. Unfortunately, that's not something that can be written into the agreement according to the settlement or, like, a range, two to five percent or two to six percent. It does have to be an actual flat fee dollar amount or a percentage.
The other thing about buyer broker agreements is that the compensation received by the buyer's agent from all sources cannot exceed the amount written on the buyer broker agreement and agreed upon by the buyer.
So, you know, this is something we're getting used to as you're thinking through your business and what you, want to work for, how much money you want to receive, and where that source is gonna come from the buyer, or are you going to be able to ultimately collect something from the seller or the listing agent to assist?
Keep in mind, this form can be modified. Right? It can be modified up. It can be modified down.
Based on conversations that you have with your buyer, this will be a compliance.
You know, I know some people are asking about for compliance purposes for each state. We will have to ensure that the buyer broker agreement amount ultimately does match what is listed on the settlement statement and that you are receiving as an agent. So it is a form that will likely be evolving as we're moving through, negotiations.
Any thoughts, Amanda or Sarah, you want to add here?
We had a couple questions in the chat regarding, Lofty and if creating a landing page for your listings in your CRM is okay and if they can put offers of compensation on lofty.
And, guys, I I just, I pulled up the FAQ, FAQ, and there's actually I just read this again. There's an interesting the way I read the FAQ, it sounds like lofty would be fine regardless. So number forty three on the NAR FAQ says, can a listing broker communicate offers of compensation on a broker website which has an IDX or VOW feed? It says, yes.
MLS participants may augment MLS data or data fees with offers of compensation to buyer brokers or other buyer representatives only for their listings of their own brokerage. So it sounds like lofty is gonna be free game, because even though it is fed by VOW and IDX and we're augmenting that MLS data according to that item number forty six there four sorry. Forty three there, we can add that in. And so, again, this I've heard different interpretations here from different folks, on different classes that we've taken.
But digging directly in the FAQ number forty three, I feel like we're safe to list the compensation on our lofty site pretty much anywhere, based on how forty three was written there. I don't know if anybody else who has has read that particular FAQ and wants to chime in, but I think that's actually pretty good clarification from NAR. I don't know if that's on a newer version, but that's currently on the, the NAR FAQ website.
And I think that's why it's so important that fax dot realtor is essential because it's going through every one of these because IDX was, and I think that's great. Thank you for looking that up. And I'll stand corrected. I'll admit that one because last time I looked, it was like no IDX. So I think as more more people are digging into it, and I think that's where it's gonna be ever evolving, I thought it was really interesting someone said no to key rings because, lockboxes are owned by the MLS.
So that's like I I think I think that's a I think that's a pretty broad I think that's that's a really conservative interpretation.
Again, if if someone got fined for having a key with a compensation on it in a lockbox, LPT would have your back there because I think that'd be a real stretch for someone to enforce.
And I I'll drop the link in there as well for that NAR FAQ.
It's just, yeah, it's a good it's it's a great resource. And, again, I think, you know, I think as as we get closer to the deadline, NAR seems to be updating it because, again, I feel like I've read this thing multiple times, and I have a pretty good memory. And some of this was not there at at times in the past. So I think it is a living document that NAR keeps up with. But that that really, I think, is gonna be kind of our our North Star from a a knowledge standpoint, is that that NAR FAQ website.
Yeah. And that's a perfect example of, like, why we have to be very resilient during this time because there is just so much unknown, and we are currently living in this world of interpretation. Right? Like, we have the black and white language that is being proposed, and we have different agencies, individuals, lawyers, like, interpreting what this black and white language means.
And, you know, we as agents, like, we want answers. Right? Like, we wanna know exactly what something means. And, unfortunately, we are in a in a place right now where we may not have a consistency with some of these interpretations because people will have their own opinions.
You know, before then our settlement, we were living in a world of decades worth of precedence. Right? Like, these were interpretations at one time that went through the systems, went through the hearings, and actual precedent came out of it so we knew how to govern ourselves. It was no longer an interpretation.
It was, this is what it means. You know, now, however, we are in that interpretation world. So, guys, it's this is a great example of why we have to stay resilient during this time and, you know, adapt and pivot accordingly.
Yep. And as far as, like, BBAs and compensation, I see a lot of questions new construction, resales, things like this.
I I think without getting into too much detail because every state form is gonna be very different, and I think that's why it's really important to attend your state classes because I can sit here and speak for Georgia. And Georgia has an option where it says what we're paying, what they were allowing the seller to pay. We approve more. We approve less.
And others you know, other box, and it says, you know, if the seller's offering more, can we reduce? Are we not gonna reduce? Are we allowing them to get this much? So I would say some of those really, kind of granular details, ask your estate brokers and attend those state sessions because I can sit here and tell you, like, yes.
We have an other option. So we can say three percent or two percent or four percent or whatever you're charging, and then other in a special circumstance, in the event a buyer purchases a new construction home and the builder's offering four percent, we're going to allow that. So as long as it's disclosed, that's the whole premise of this is transparency, disclosure, everything's negotiable. And I think as long as you disclose it upfront and you're transparent about the different situations and you cover it in your BBA, again, how you do so, where you do so dependent on your state form.
And as Natalie said, these these can be modified.
So, you know, keep that in mind as well. Everyone has to sign to it and agree to it, but, I mean, they absolutely can be amended too.
Yeah. That's definitely the spirit of what they're trying to convey is more transparency, for people to know where my commission's coming from, who it's being paid by. So that's definitely, you know, the direction we're going with all of our forms.
To our point that we just discussed, definitely check-in with your local MLS and associations.
They are the ones who are going to be, again, fining if you do put offers of compensation on the MLS.
I do know some associations, MLSs are asking for a copy of a BBA, a buyer broker agreement, here in Florida, they do have the right to do that. However, remember, you do not have to share your BBA with the other party, with a listing agent, but some associations may request it in certain circumstances, so you do have to be able to produce that.
Also, there's been a lot of changes prior to August seventeenth. Obviously, I know one of the biggest MLS's here in Florida went ahead and preemptively, made the shift and took offers of compensation off on, I believe, it was the sixth of August to kinda get ahead of a ahead of the curve. So you wanna pay attention to that. You don't wanna be posting, compensation in the MLS thinking, hey. I have until August seventeenth, and then guess what? I don't, and then, receive a fine. So just pay attention to those emails and communication you are getting directly from them.
Now you're back on that point you made. I think you were saying that the the MLS can the MLS has a right to ask for a copy of the BBA to make sure that you had it executed prior to, you know, showing because they are they are going to potentially enforce fines if you show properties without, an executed BBA or an executed touring agreement or, again, some document that meets the compensation disclosure requirement. Now the second piece of that is there are listing agents asking for it. And and we do not we do not see anywhere where they have a right to do so.
Now this puts you in a tough situation. If a listing agent is digging in and doesn't wanna allow you to show the house or doesn't wanna allow you to, you know, write an offer, they're not gonna look at your offer or whatever nonsense, the bad drivers. Right? For those of you that have been on some of these classes, I talk a lot about the bad drivers on the road.
We can be perfect drivers. We're in our lane. We're following the speed limit. Somebody else runs a red light, runs a stop sign, swerves into our lane.
We have to deal with it. There are going to be bad drivers out there who are doing things they shouldn't do. And I would say requiring a a buyer's agent to show the listing agent or trying to require the buyer's agent to give the listing agent a copy of the BBA is is, in my opinion, a bad driver. Now what are we gonna do about it?
Right? And so what I would say is if you decide that you do need to share it, you need to get your customer's permission. You know, I would ask the customer. I'd explain to them, like, hey.
This is a docket between you and I. That listing agent does not have a right to ask for it. It may impact negotiations if they know the information in that agreement. So before I send it, I I'd like to get your approval to do so, but they have requested it.
Again, this is if you're comfortable doing it. You can dig in back. Right? But is that what's best for the consumer?
We can file an ethics complaint. We can take this thing to, you know, MLS, you know, mediation. There's a lot of levers we have to pull, but at the end of the day, we are dealing with a bad driver. You know?
And and and slamming our car into that bad driver's car is maybe not the best result, again, to help our customer get what they want, which is buying that home. And so, you know, look. Again, the broker team is here. If a call from our brokers to them may help, like, those are all things we're willing to do, but you are going to hit irrational folks on the other side.
You're gonna hit bad drivers.
There is no requirement for a listing agent to have that documentation. There is no right for a listing agent to have that documentation from you, but that doesn't stop the reality that some of them may use it to make your life more difficult or request it or try to do again. And, again, this is where we have to be nimble and flexible because of the other bad drivers on the road.
Yeah. No. It's a great point for sure. We we already are seeing the fallout from some of that.
I I just wanna add too because we've already had, scenarios where if you verbally hear that the seller is offering a commission, make sure that you get that in writing. Right? So make sure you're using your compensation forms and you're getting that information in writing. Do not go off verbal word of another agent or a seller that they will offer commission. It has to be in writing, guys.
You have to have to have to use that compensation payment. This is this is the thing that keeps me up at night right now, this fear that we're gonna have LPT agents who take someone's word for it and and go under contract and then magically don't get paid. It's it's going to break my heart. It may happen.
It's absolutely terrible. Make sure you use a compensation agreement. I dropped another, FAQ in there that basically, what NAR, NAR is saying is if your contract is executed before the date that your MLS removed compensation, so not even through the seventeenth, through whatever date your local MLS removed compensation, If your contract is executed before that, then the amount of compensation listed in the MLS at that time would be enforceable. If you go under contract after that, you basically need to have it in a compensation agreement, not just verbal.
You know, I wouldn't even necessarily just take take even, like, a text message from the other agent. I would get that compensation agreement, in in as a part of your contract package. In some states, it can be a part of the actual contract. In some states, it has to be a separate document.
But, again, make sure your state classes, you're understanding this. Get those compensation agreements in there. Don't just take someone's word for what your pay is going to be because the MLS is no longer in the middle to enforce that.
Yeah. Absolutely.
Going to our next slide, which kinda leads in perfectly. I mean, what if you have active listings? What if you have active, you know, purchase agreements while these chains are changes are being enacted? So, with active listings, you do need to pay attention again to your local association, and your state, as far as listing agreements go for active listings.
In some, there are problematic language depending on how old the form is. Right? If you're using newer the latest version updated forms, chances are that you're not going to have to amend that. Now if you, by chance, have a listing from twenty twenty three, guys, okay, maybe it's really old, there could be some language in there that's problematic and you would need an amendment.
So if you have a listing agreement, my kind of rule of thumb is, like, pre March twenty twenty four still lingering out there.
Put in a ticket to your broker and get your broker's input on maybe what steps you need to take.
You do need to make sure, also that, there is a NARD disclosure as well that's being circulated, that is being recommended, that you do send to all of your active sellers. We do have a copy of that in that loop. Some states are coming out with specific disclosures.
You do not have to get this disclosure signed. I'll show it to you on the next page. It's very simple.
But it is being recommended that you do circulate this general disclosure to all of your active listings and, of course, that you make sure you have re removed all offers of compensation from the MLS as well.
So just those three things.
Here is the disclosure.
It basically just needs to read that, the selling agent's compensation is fully negotiable and not set by law. This is what they're wanting to get out to the general public in regards to these changes. Again, it it's kind of the spirit behind the settlement and what it's trying to convey that, it's negotiable.
So, again, this is in dot loop for you if you would like to use this form to send to your active sellers listings that you have throughout this change. Or if you wanna use a state form, there are some available. You can ask your broker where that is, but it's likely in your dot loop state forms already as well.
And then also to Robert's point that he just mentioned, what if I have pending purchase contracts throughout this change?
So like he just said, if your MLS removed offers of compensation and your contract was pending prior to that removal and that percentage was listed on the actual listing, that is enforceable.
It would be good to keep a screenshot or your MLS synopsis, to keep a copy of that. If you want to be extra, cautious, you could also reach out and get a compensation agreement executed as well in addition to that screenshot.
That would be my recommendation just to be extra sure, right, and make sure there's no confusion.
So those would be our recommendations for pending purchase contracts.
Sarah, I see you shaking your head. Do you have any input on that?
Like, just get it in writing. Just get it in writing.
Right? Figure yourself a headache. CYA. Get it in writing.
Yeah.
I see a question. Do the sellers need to sign that NAR disclosure for active listings? They do not. No one needs to sign this disclosure. It's just a general disclosure that you would give to your active listings and sellers and just having a copy that you delivered it is sufficient according to NAR guidelines.
Also, I just want to add, I had a question earlier today from an agent who is representing a tenant. So if you are representing a tenant, definitely check with your broker to see what document you need for a tenant agreement as well.
That's a great point. Great point.
And then here funny enough, here is this FAQ that Robert was pulling this information from.
I highly recommend that everybody go and read through these frequently asked asked questions and answers. It is really helpful.
Like Robert said, these are the standards that we're basing our, you know, practice and and what we're doing, as corporate off of the settlement because it can vary state to state. Right? Like, we've already talked about, I'm sure it will evolve, but this is the best resource for you to get the latest information from actual NARS site.
And with that, there they are.
Alright.
Well, I'll ask you one.
Yeah. No.
Thank you, Natalie, for sharing that. Guys, I really hope that we were able to pull out some of those nuggets and also, you know, just have that comfort level of the, pertinent sections of the NARS settlement.
You know, this was a very, you know, great class in that, again, this is one of those very organized one. Right? It's PowerPoint. It's deck.
You're able to see the bullet points. You know, this is in combination with your state level stuff. You know, really, if you wanna understand what's going on at the state level, what are the granular changes that are happening, please, guy, we please, guys, we cannot emphasize enough for you guys to attend those state specific classes because it will go into that deep dive of your state particular changes. You know, this is the national NARS settlement changes.
And then also, guys, you know, please, you know, as we're hosting some of these other classes, you know, to reduce that anxiety, to get additional nuggets. You know, we discussed earlier crossing that bridge from the how to act accordingly to now let's use this new world as an opportunity.
You know, we really encourage you guys to get so comfortable with the how tos today where we can then start transitioning into that world of really treating this as a new opportunity for us to be able to extract those, you know, new things that could arise in this new dynamic. And then lastly, guys, please be resilient. You know, be resilient during this moment. There are a lot of unknowns.
You know, we are going to be reporting these, hot off the topic headlines as they start coming out. As new changes come out, we'll or as we're hearing these new interpretations, we're gonna be sharing them here in these next two weeks and for this foreseeable future. So with that said, we're at time. Robert, I'll kick it to you for final words.
I think I got that right. That's actually a Hodges, Hodges line. So, Robert, I'll kick it to you for final words.
Yeah. Hey, guys. We'll we'll be back here in the seat at ten o'clock, doing this again, as a part of our five a day marathon. We hope you're finding value in these.
Again, we're we built these to be little nuggets and snippets to help get you in the right direction, answer questions. You know, for the deep dives, I saw some of the questions in the chat we were unable to answer today. A lot of those are more of the state level. Like, get in there with your state level broker.
They can take you through details of forms. If you have a particular scenario, the state level classes are great. Those are happening all day every day for the next two weeks as well. And so, again, we're this is all part of our broader strategy for how LPT is navigating these waters.
Two weeks of hardcore education, five times a day at the national level, plus all of the state comp the state specific classes and everything else.
And again, then from there, we've got other exciting stuff on the horizon kicking off after we get through this training bonanza. So, again, we're we're here to help guide you through it. We're really focusing on the conversations, the education, the why, the how, because arming you with that, we feel like, is the most important thing through this window at time. So have a great night.
For those of you that are up late, feel free to join us back here at ten PM. If not, nine AM tomorrow morning, we'll be doing a coffee chat and talking about, again, some of the weird, bad drivers on the road that we're already hearing about, and we're not even fully in in production yet on this deadline. So stay strong out there, be resilient, be nimble, and we'll catch you guys at the next meeting. Thanks so much.
Thanks, guys.