NAR’s Newest Consumer Guide: MLS

WASHINGTON – The National Association of Realtors®’ newest Consumer Guide aims to educate buyers and sellers about multiple listing services (MLSs), explaining the value of an MLS and the role of offers of compensation.

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The guide, which can be viewed at the NAR website facts.Realtor or printed as handouts, answers common questions that include what is an MLS, can I make an offer to compensate a buyer’s agent on an MLS and how do I access MLS information? It is the eighth in NAR’s series aimed at providing customers with the information they need while highlighting the value Realtors provide. All are available in English and Spanish. Click the title to view the PDFs:

1. Why Am I Being Asked to Sign a Written Buyer Agreement?: Covers recent practice changes when it comes to working with a real estate professional as a home buyer. Spanish

2. Open Houses and Written Agreements: Covers what buyers need to know about touring homes, attending open houses and when a written buyer agreement is needed. Spanish

3. Realtors’ Duty to Put Client Interests Above Their Own: Covers NAR’s strict Code of Ethics that all agents who are Realtors must follow and their ethical duties to act in their client’s best interests. Spanish

4. What Veterans Need to Know About Buying a Home: Covers what NAR is doing to promote access to financing for veterans and highlights the options available to veteran buyers in their homebuying process. Spanish

5. Offers of Compensation: Covers the process and options available for offering compensation to a buyer’s agent and the reasons why this may be a compelling option for sellers to consider when marketing their property. Spanish

6. Negotiating Written Buyer Agreements: Covers what home buyers should expect when negotiating a written buyer agreement with an agent who is a Realtor. Spanish

7. Seller Concessions: Covers the most common types of seller concessions, rules for when and where to offer them and how they can facilitate a successful transaction for both homebuyers and sellers. Spanish.
    
8. Multiple Listing Services (MLSs): Covers what an MLS is and how it aids in the homebuying and home selling process. Spanish version available at a later date.

Be sure to check Florida Realtors®’ NAR Settlement Resource Guide webpage frequently for the most up-to-date information about the practice changes, including videos, infographics and new and revised forms and contracts.

All forms are also available on Form Simplicity. As always, the Florida Realtors Legal Hotline is available weekdays to answer your questions at 407-438-1409. Questions may also be submitted online any time by clicking here.

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