Greetings to all KW Agents (and colleagues outside of KW),
As we stand at the precipice of change, it’s a moment to reflect on our journey, embrace the shifts that lie ahead, and renew our commitment to excellence, adaptability, and resilience. The settlement of the recent NAR lawsuit marks not a moment of uncertainty but a stepping stone towards our next phase of growth and innovation in the real estate industry.
Our field has always been dynamic, evolving with the times to better serve our clients and community. Remember the transformation from a seller-centric model to one that champions buyer representation? This evolution was a response to a growing demand for dedicated advocacy, changing the very fabric of how real estate operates. Similarly, the digital revolution, with the advent of Internet Data Exchange (IDX) feeds, brought transparency to property listings, elevating our role as trusted advisors in an information-rich era.
Today, we find ourselves adapting once more, this time to the developments arising from the NAR lawsuit settlement. The introduction of mandatory buyer representation agreements, detailed buyer consultations, and transparent discussions about commissions are emblematic of our industry’s continual refinement. These changes underscore our indispensable role as navigators and confidants in the intricate world of real estate transactions.
As Keller Williams Honolulu moves forward, these developments are not merely hurdles but opportunities for us to sharpen our skills, enhance our services, and redefine our value proposition in a dynamic marketplace. We’re setting the stage for growth, with new practices and guidelines that reflect our enduring commitment to excellence and client satisfaction.
KW has always led from the front, adapting to changes with innovative strategies and an unwavering dedication to excellence. This moment is no different. It presents us with a chance to showcase our flexibility, leadership, and commitment to delivering unmatched service.
To equip us for this new landscape, I’ve gathered together some resources for your reference:
On March 19th, 2024, James Shaw with Keller Williams hosted a wonderful daily coaching session called “Shift Ahead”. He provided some insights and his thoughts here:
On March 22nd, 2024, published on online guide entitled, “The Truth About the NAR Settlement”, which can be found here:
https://www.nar.realtor/magazine/real-estate-news/law-and-ethics/the-truth-about-the-nar-settlement-agreement?grp=broker&narmail=EdgeUp%20&date=03-28-2024&user=3853564&itid=9372108
On March 22nd, 2024, NAR provided a settlement update from NAR President, Kevin Sears, which can be found here:
https://www.nar.realtor/videos/settlement-briefing-march-22-2024?narmail=SettlementAgreementFollowup&date=03-25-2024&user=3853564&itid=9384963
On March 26th, 2024, Keller Williams International (KWRI) provided a video called “Open House - Addressing The NAR Settlement”. That video can be found here:
https://go.kw.com/open-house?_hsmi=299769017&_hsenc=p2ANqtz--jsaIONHk5raTAgpAm3XcHfe-WetFypOSc-x6Vy3L0D-Z4gox4giYZctC3cGjGqnMMQHC33vurbk2FjqkkvJlOP9APxg
On March 26th, 2024, Keller Williams International (KWRI) shared a “one sheet” of the summary of the NAR Settlement, which can be found here:
https://534101.fs1.hubspotusercontent-na1.net/hubfs/534101/Events/Email/NAR%20Townhall/NAR_Settlement_Simplified_3.25.24_FA2.pdf?_hsmi=299769017&_hsenc=p2ANqtz-8FeHwwge9MwgFNR3E6NRcYT7H4xuX0jXUBiKdYYfl0aUwtrjXjFJh1SAgXvh5nAu6FzetAJev1J7mMnt4oWkfUoFpTVw
On March 26th, 2024, Keller Williams International (KWRI) shared an FAQ regarding the NAR Settlement, which can be found here:
https://534101.fs1.hubspotusercontent-na1.net/hubfs/534101/Events/Email/NAR%20Townhall/NAR_Settlement_3.25.24_FA2.pdf?_hsmi=299769017&_hsenc=p2ANqtz-_4-AEW727tFAtbUZBO6Giufu_HIv0lLZGnbtxV7AASRUzpKlZeWSY9aYvz6JgOdO0mwbwIdtnZbHzt5Kse4sXEBJps8w
On March 26th, 2024, Keller Williams International (KWRI) shared the slides for “Value²"
https://console.command.kw.com/connect/learning/categories/assets/26917?_hsmi=299932013&_hsenc=p2ANqtz-8RaeVu7EsZANs4EBJAAtD8jNuOwJHib4xg88twtHcZPYYVROfmbA_kjO2fHFeaVmvtE8yOumgZhqJCxV9_UIJsdAj-Qw
On April 9th, 2024, Kevin Sears, President of NAR was interviewed by “Real Estate Insiders” and speaks to why NAR settled, what’s in the real estate industry as well as what to expect from mortgages as a result.
On April 23, 2024, the Federal Courts have preliminary approved the settlement. For more information, please visit: http://links.nar.realtor/e/evib?_t=c5b1fb62997f4706a5deeffd263175b4&_m=7f56ef1d8467499abbb824e7eb740141&_e=xtt6TxTjNsSe7LSnRxGHhlITUyyjq-rO8ugyLmiZlLxOOstgg8wiSDivDA8akjsm
NAR’s “Facts Page” is always a helpful resource, which can be found here:
https://www.nar.realtor/the-facts?narmail=SettlementAgreementFollowup&date=03-25-2024&user=3853564&itid=9384963
Date: April 10, 2024 7:00am
Location: Digital
Instructor(s): Gary Keller, Jason Abrams, Jay Papasan
https://events.kw.com/event/value-squared-041024/
Date: April 25, 2024 7:00am
Location: Digital
Instructor(s): Gary Keller, Jason Abrams, Jay Papasan